The Argentina international has been a key player for the Magpies in the last few seasons, but he could soon be heading away from Tyneside after requesting a return to his home country for personal reasons.
Colocinni's departure would be a huge blow for Newcastle, who are without a number of injured defenders, and he underlined his importance with a resolute display in the 0-0 draw with Norwich at Carrow Road.
Pardew admitted Coloccini has been a valued member of his squad and is planning to discuss his future over the next few days.
"I didn't really want to comment too much on it because it's for our club business, but we'll speak to Colo this week and sort it out," he said.
When asked about the centre-back's performance, he added: "He was excellent today. Of the four centre-halves on the pitch he was the most assured.
"He gave us that calmness in the heat of battle and you need that."