The Australian midfielder has joined Championship side Aston Villa for an undisclosed fee.
The 32-year-old joined the Eagles in the summer of 2011 and went on to make 179 appearances in all competitions during the next five years.
Jedinak also served as captain of the club for the last four years.
Pardew said: "Mile has been an influential figure at Palace since joining five years ago.
"He has been a super player and instrumental in our progress as a club.
"We thank him for his commitment in a Palace shirt and wish him the best of luck in his next chapter at Aston Villa."