The nine-cap Senegal international joined the Magpies in January from Bordeaux but has made just four appearances to date and only two of those starts.
Saivet last featured for United at the start of February, when he stepped off the substitutes’ bench for the final minute of a home victory over West Bromwich Albion.
The 25-year-old will now play back in Ligue One for the remainder of the 2016/17 campaign.