Allardyce has been out of the game since his brief stint as Magpies boss came to an end in January.
He was only appointed Newcastle last summer after building a reputation for himself at Bolton, but he fell short of expectations at St James' Park.
Allardyce believes he received unfair criticism following his departure from Newcastle and has insisted he is among the very best managers in the country.
"I don't consider myself to have failed and I think everyone realises now that what happened at Newcastle wasn't down to me," Allardyce said in The People.
"At every club I've ever been at from the earliest days in Ireland with Limerick I've always taken them forwards and Newcastle was just an unfortunate experience.
"I've had five months off now and I've enjoyed what's basically been my first break from the game in 14 years, and I've used it to the maximum."