The 23-year-old has played a key role for the Argentinian side in 2023, making 27 league appearances and managing to rack up nine goal contributions.
Rollheiser has netted 13 times in 80 matches across all competitions for Estudiantes since making the switch from River Plate after leaving the South American giants at the end of 2021.
The attacker has brief experience on the international stage, appearing on three occasions for Argentina Under-17s during the calendar year of 2017.
According to Argentinian news outlet Ole, Newcastle and a host of other clubs are interested in securing the services of Rollheiser within the next few months.
The report claims that Estudiantes expect one of their most prized assets to leave during the January transfer window, with speculation surrounding the player's future continuing to rumble on.
It is understood that Championship outfit Sunderland were keen on bringing the winger to the Stadium of Light during the summer, with the Black Cats desperate to replace the quality of Manchester United loanee Amad Diallo who returned to Old Trafford after a loan spell.
Fellow wideman Jack Clarke was heavily linked with a move to the Premier League - namely Vincent Kompany's Burnley - following the 2022-23 term, however the former Tottenham Hotspur man stayed at the North-East club.
Focusing on Rollheiser, it is believed that the Magpies have been monitoring the progress of the Argentine for a number of months, although an official bid is yet to be made for a player who is supposedly valued at £12m.
After a fourth-placed finish in the Premier League last campaign and subsequent Champions League qualification, Eddie Howe's side have attempted to improve their squad depth as they battle domestically and on the continent this term.
As for Sheffield United, the scene has been in South Yorkshire after collecting just five points from their opening 12 top-flight matches - the Blades are in a scrap for survival.
Paul Heckingbottom admitted that his side were undercooked in attacking areas during the early stages of the term as they are often forced to field an inexperienced forward line of Benie Traore and Will Osula, however the arrival of Cameron Archer from Aston Villa has provided more options at the top of the pitch.
Despite this, it is understood that the Blades are interested in securing the services of Rollheiser in the New Year, although Heckingbottom's side face stiff competition from Newcastle for a player who was reportedly close to joining Zenit St Petersburg last summer.
Following Everton's 10-point deduction for breaching the Premier League's profit and sustainability rules, the Blades have moved up to 18th in the top-flight standings and welcome relegation rivals Bournemouth to Bramall Lane next Saturday. body check tags ::