The 21-year old Spanish striker has scored in his past three Premier League outings, including in his first start for the Magpies against Tottenham in October.
His recent form for the north east outfit has prompted some press outlets to compare him to Toon greats Alan Shearer and Andy Cole but Pardew believes that is too much for the youngster who was signed from Spanish division two club Tenerife for £1.5million in the summer.
"At the moment, he's fearless. He's got the wind in his sails and is going along very nicely. He's been very sharp in training. He's a threat," Pardew said ahead of Saturday's meeting with QPR.
"If you take your eye off him, he's a predator. I'm sure QPR will be having conversations of how to look after him. He's difficult to pin down, his movement is very clever.
"But he is a young player. Some of the headlines have been way off the mark - the new Alan Shearer, the new Andy Cole.
"This is a boy who has played three games. Those players are legends and have done it all. Ayoze is just setting foot in the Premier League.
"But I have to say, he's done really well so far. I'm pleased with him."
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