The proposed dea for the the 31-year-oldl could not be reached before the Argentinian transfer window closed over the weekend.
Gutierrez started his career at Velez Sarsfield, and trained at the club late last year after being given the all-clear following treatment for testicular cancer.
Gutierrez will now leave the club on a free transfer in the summer when his contract runs out.
Gutierrez: “I have played in a World Cup, but if I play again for Newcastle then that will be the best moment of my career.".
Gutierrez has played in two league games for United’s Under-21s, and he hopes to return to head coach John Carver’s matchday squad and play a part in the remaining few months of the season.
Carver said last month that Gutierrez was edging himself closer to a return with every reserve-team outing.
“He’s getting fitter and stronger – it’s part of his process,” said Carver. “I’m liaising with him all the time.
“Players know better than I do in terms of fitness, but he is about two or three weeks away from pushing for a first-team place.”