They came within five points of Champions League qualification last year and Pardew insists the kudos and riches that would bring would be every bit as important as winning a cup.
He said: "Obviously, we want to win something - you shouldn't be in the game unless you want to win something.
"Winning for us would be actually qualifying for the Champions League - that would be winning for us, 100%. It would be like winning a trophy.
"But our fans would like to see a nice big cup, I am sure, and hopefully we can achieve that somewhere down the line.
"We are getting to the stage where there's a mentality and a quality in the group that could win a competition such as this.
"We have to just try to win every game that we enter and see where our goals are come Christmas-time when we can really start focusing on what we want to achieve this season."