While the Magpies will be disappointed to miss out on silverware, they will be proud of the progress they have made since being taken over by Saudi Arabia's sovereign wealth fund.
Newcastle have been transformed from a side battling relegation to one that is now dreaming of qualifying for the Champions League.
The shift in expectations and the arrival of key players has led to some members of the Newcastle squad falling down the pecking order.
With Newcastle expected to add to their ranks in the summer, there are likely to be several departures, and here Sport Mole identifies five players that could leave St James' Park at the end of the season.
Javier Manquillo
Since joining Newcastle from Atletico Madrid in the summer of 2017, Manquillo has made over 100 appearances for the club, contributing one goal and seven assists.
Newcastle turned to Atletico for another right-back last January, signing England international Kieran Trippier, who has established himself as the Magpies' first-choice right-back.
As a result, Manquillo has found game time hard to come by, playing just 10 minutes across Newcastle's 23 Premier League matches this season.
Eddie Howe's side also bolstered the right side of their defence by signing Harrison Ashby from West Ham United in January, and they are also being linked with Real Valladolid right-back Ivan Fresneda.
Although Manquillo is under contract until June 2024, with no obvious path back into the first team, the Spaniard could be allowed to depart in the summer.
Jamaal Lascelles
Jamaal Lascelles captained the club to promotion in the 2016-17 season, and he has gone on to make 156 Premier League appearances.
However, Lascelles's seven-year association appears to be nearing an end, having lost his place in the side to Sven Botman, who joined the club last summer.
The Dutchman has established a resilient central defensive partnership with Fabian Schar, which has restricted Lascelles to just one Premier League start.
With less than 18 months left on his current deal, Newcastle are prepared to let the 29-year-old leave at the end of the season.
Lascelles has been linked with a return to Nottingham Forest, who are considering a summer move for the defender.
Paul Dummett
Apart from a couple of loan spells with Gateshead and St Mirren, Dummett has spent his entire career with his boyhood club.
The left-back, who can also play in central defence, has only made one competitive appearance for the Magpies this season, playing the duration of August's EFL Cup win over Tranmere Rovers.
Dan Burn has been preferred by Howe this season, while Newcastle also have the left-back options of Matt Targett and Jamal Lewis in the pecking order.
The Magpies are also expected to strengthen the left side of their defence in the summer, and have been linked with Fulham's Antonee Robinson, although the United States international is in talks over a new contract.
Dummett has been deemed surplus to requirements, and with his current deal set to expire at the end of the season, the defender is expected to leave on a free transfer.
Matt Ritchie
Matt Ritchie, who has played under Howe at both Bournemouth and Newcastle, has made 194 appearances for the Magpies, scoring 24 goals and providing 33 assists.
With Howe able to call upon the likes of Anthony Gordon, Allan Saint-Maximin, Jacob Murphy and Miguel Almiron, Ritchie has been reduced to a fringe role in the Newcastle squad.
Ritchie has only made three top-flight appearances this term, and he is yet to start a Premier League game in the 2022-23 campaign.
Like Dummett, the 33-year-old is expected to leave St James' Park when his contract expires at the end of the season.
With Ritchie's time on Tyneside coming to an end, he is believed to be attracting interest from a number of clubs across England and Scotland.
Ryan Fraser
Ryan Fraser left Howe's Bournemouth side in September 2020 to join the Magpies, but the pair were reunited when the 45-year-old was appointed Newcastle boss in November 2021.
Although the Scotland international was part of Howe's plans last season, he has been frozen out from the first team this term.
Fraser has not featured for the North East club since October, and he is now reportedly training with the Under-21 side.
The 29-year-old does not appear in Newcastle's long-term plans, and as a result, he is unlikely to return to the senior set-up.
Despite having a contract until June 2025, Fraser is also keen to depart to increase his playing time and a summer departure seems to be inevitable.