Arsenal superkid Dowman, 16, has made a big impact for the Premier League leaders this season, despite missing a large chunk of the campaign with injury.
And Pardew insists the teen is ahead of Real Madrid midfielder Bellingham when he was the same age.
He told talkSPORT: "I've got him above Jude Bellingham, in terms of, he's the best I've seen, at this age we're talking about.
"You've got to think, well, I see Ronaldo in Le Tournoir (1997 Tournoi de France). He stood out a mile at his age group.
"Dowman stands out a mile at his age group... and if he can progress and grow, because that disappointment he had in the quarter-final is what being a footballer is all about.
"It's not about being glory all the time. A lot of it is painful. And he needs to keep growing in that pain, if that makes sense.
"That's why I liked his reaction. This kid could be another Gazza (Paul Gascoigne) for us in a different way.
"He's not like Gazza, a different type of player, but the same level of player. I really hope he can come through."