Pardew has turned the Magpies' fortunes around during a remarkable Barclays Premier League campaign that exceeded all expectations.
Newcastle are currently fifth in the league, and could yet end the season with Champions League football to look forward to next weekend.
Led by Pardew, Newcastle are guaranteed a top-five place this season - the club's highest position since 2003-04, when they finished the campaign in third under Sir Bobby Robson.
Pardew has also been responsible for a number of influential and highly successful signings, most notably Senegalese strikers Demba Ba and Papiss Cisse. The Wimbledon-born boss also brought in Lille's Yohan Cabaye, who has impressed in Newcastle's midfield.
This is the first time a Magpies manager has been awarded the accolade.
Meanwhile, City captain Kompany has been named the Player of the Season after an incredible title challenge.
The central defender has been a rock at the back for Roberto Mancini's side and his leadership has been recognised by a panel of experts in winning the award.
The well-organised City defence, orchestrated by Kompany, has kept 17 clean sheets this campaign. That has contributed to an excellent goal difference that looks set to see the club edge out Manchester United for the title.
Kompany has also scored his share of goals with a tally of three to date, including of course the winner against United at the end of April.
This is the first time that a Manchester City player has picked up the award and is also a first for the Belgium international.