Puncheon is currently on loan at Blackpool until the end of the season from Southampton.
Puncheon has impressed for Blackpool and manager Ian Holloway is keen to turn the loan into a permanent deal in the summer.
“Jason was somebody I scooped from MK Dons for a really good price. He’s done extremely well and he’s a player I’ll keep an eye on,” Pardew told The Evening Chronicle.
“Jason’s at Blackpool at the moment, and whether there’s an opportunity to come here will be determined by what he does at Blackpool.”
