The 32-year old Argentine centre-back is continuing to be linked with a return to former club San Lorenzo but Pardew insists he is not concerned about the reported shift.
"I'm not worried about it at this stage, but obviously it is a conversation that I will have with Colo and we will pick the right decision for the club," said Pardew.
"What might be right for him might not be right for the club, but I am hoping we both make the same decision because I want him to stay. He is an essential part of this team, one of my most important players.
"I don't see anything to give me cause for alarm, if I am honest. His mentality for the game will never change.
"He is quite calm. He enters the game to be the best player - and most of the time he is."
Coloccini, who joined the Magpies from Deportivo la Coruna in 2008, is contracted at St James' Park until June 2016.
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