The Geordie club are wedged in the bottom three with 24 points from 28 games and five losses from their last six games.
Fellow relegation candidates Bournemouth piled the pressure on McClaren with a 3-1 victory at St James' Park last time out.
With the pressure on, who could replace the former England manager? More importantly, who would want to tackle a seemingly impossible job?
1. Rafael Benitez
Rafa was recently given the axe at Spanish giants Real Madrid and has a wealth of experience with clubs bigger than the boys on Tyneside. Valencia, Napoli and Inter Milan are just a few clubs from his impressive CV.
He knows the Premier League well from a solid six years at Liverpool, but the likelihood of joining Newcastle looks bleak. With no clear club direction, a thinly pocketed chairman, and the threat of relegation to the Championship, surely Rafa has bigger fish to fry.
2. Brendan Rodgers
The former Swansea City and Liverpool manager is another front runner in terms of favourability, but, in terms of realism, the 43 year-old is likely to shy away from a potential bombshell.
Known for promoting youth and helping home-grown potential flourish, it could be a conflict of issues with Newcastle chairman Mike Ashley.
However, with eight managers in the past eight years, perhaps it is time Ashley goes for a manager with a little more longevity.
3. Nigel Pearson
Pearson knows the club from back-to-front after taking on caretaker duties at St James' Park over 2007 and 2008.
A chance to jump back into management with a club he holds dearly, and to rectify his damaged reputation from an odd ending at Leicester City, will surely make him a leading candidate.
However, with plenty of hot-headed characters already in the dressing room, Pearson’s appoint could cause more of an uproar than cheer of delight.
4. David Moyes
Moyes made the peculiar decision to jet over to Real Sociedad straight after his sacking at Manchester United. And, with a win ratio of 28 per cent from 42 games, it clearly didn’t work out for the Scot.
A move to the Premier League may be much more welcoming than the twist of La Liga or foreign football but Moyes is also believed to have on eye on a return to the Everton job, where Roberto Martinez has been under pressure.
5. Chris Hughton
The former Newcastle manager had a lot of pity from the Geordie faithful after his sacking in 2010.
After largely unsuccessful spells at Norwich City and Birmingham City the 57 year-old has found himself at home in Brighton where he has built a play-off challenging team in the Championship.
His exploits will surely not go un-noticed, although fans at St James' Park are likely to bemoan the capture of a coach with little experience in managing the top sides. Then again, beggars can’t be choosers.
6. Harry Redknapp
Redknapp has been out of management since February 2015 after his two year spell at QPR came to an end.
It was hardly his most successful spell and Newcastle fans will be hoping the man who took Tottenham Hotspur to the Champions League is still knocking about in the locker room.
With regular favourites such as Nico Kranjcar, Jermaine Defoe and Peter Crouch yet to hang up their boots, perhaps Redknapp can organise a nice reunion at Newcastle and save them from the plummet.
7. Christophe Galtier
The French manager was considered one of the stronger front runners for the Newcastle job before McClaren came in and snapped it up.
Remaining at Saint-Etienne, Caltier is enjoying a good season in Ligue 1 with his side currently in seventh place, three points off Lyon in third.
With an under-performing bulk of French players at Newcastle, perhaps Galtier can swoop in and add some needed va va voom .