Barcelona are also purportedly looking at the possibility of signing Slovenian striker Benjamin Sesko from RB Leipzig.
While Barca allegedly made contact with Newcastle towards the end of 2024 over what it would take to sign Isak, a deal looks difficult to achieve.
The Catalan giants are also eyeing up a move for Luis Diaz, whose contract at Anfield runs until 2027.
A deal for the young star would also be complicated by the presence of Robert Lewandowski - who is likely to stay at the club until the end of next season.
After trying and failing to sign Nico Williams from LaLiga rivals Athletic Club last summer, the Blaugrana are said to be looking elsewhere when it comes to planning for their next phase of recruitment.