Arsenal are understood to have offered £10million for Cabaye as Arsene Wenger tries to make his first major signing of the summer transfer window.
Premier League rivals Newcastle quickly rejected the bid, but Cabaye was not included in Pardew's squad for their opening game of the season at the Etihad Stadium on Monday night.
Pardew confirmed before the game that the offer had been turned down, telling Sky Sports 1: "What I can confirm is that, on the eve of a game, we had a bid for a player that we don't think is acceptable.
"Therefore, I have to pick what I think is a team out here that's going to get us a result.
"The rights and wrongs of that bid are for other people to make their own opinion. I know what my opinion of it is.
"I don't want to keep going over the same point that is the main focus for the media today, but my main focus is to try and get a result for the fans and players."
And, after Newcastle were beaten 4-0 at the Etihad Stadium, Pardew expressed his frustration at the timing of Arsenal's bid.
He commented: "We've prepared with the lad for three days and then for him to have his head turned by this bid from Arsenal on the eve of the game is just disrespectful.
"From my view, why it couldn't have waited until tomorrow morning I do not know.
"I don't think the result would have been the same if he had played."
Arsenal's Premier League season began with a miserable 3-1 home loss to Aston Villa at the Emirates on Saturday and boss Arsene Wenger has been criticised for not strengthening his squad this summer.
Wenger has made it clear he does expect to make signings before the transfer window closes at the end of the month and Cabaye has now emerged as a prime target.
The 27-year-old has been linked with several clubs over the summer, notably French champions Paris Saint Germain, along with Manchester United and Tottenham.
The France international joined Newcastle from Lille in the summer of 2011 and helped the Magpies to finish fifth in the Premier League that season.
Newcastle did not fare so well last term, perhaps in part because Cabaye, who has been capped 23 times by France, had to miss some time due to injury.
This is Arsenal's second unsuccessful foray into the transfer market this summer following their failure to acquire Liverpool forward Luis Suarez after lodging a well-publicised £40m + £1 bid.
And the pressure on Wenger to spend has increased following the news that the Arsenal Supporters Trust have released a statement saying it would be 'inappropriate' to offer the long-serving boss a new contract.
Meanwhile, PSG boss Laurent Blanc remained coy when asked about his interest in playmaker Cabaye, but did say that he "loves" the player.
When quizzed about Cabaye by reporters following his side's 1-1 draw at home to Ajaccio on Sunday, Blanc appeared reluctant to confirm or deny his interest.
"We're still interested in buying more players," said the 47-year-old. "Cabaye? There are a lot of things that you [journalists] write in the press.
"At the moment I can only say that I love this player."