Gillesphey, 20, made 27 appearances and scored two goals for the Cumbrians during a loan spell last season.
"He is a young man who I think is going to have a very bright future," Carlisle boss Keith Curle told the club website.
"It's excellent that we can be part of his development. We're forging links with a fantastic club in Newcastle."
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Carlisle United have signed defender Macaulay Gillesphey on loan from Championship side Newcastle United until 2 January 2017.