Palace are seeking to replace Neil Warnock – sacked on 27 December – and Pardew, a former Palace player, is their first choice to become their new manager.
Pardew has been at St James’ Park for four years, and he is currently over two years into an eight-year contract, but Palace have made a compensation offer which has been accepted by Newcastle.
“Crystal Palace have offered compensation at a level whereby Alan has now been permitted to speak to them,” read a statement on Newcastle’s official website.
“As a result of this development today (Monday), Alan will not be at training on Tuesday. Training will be the responsibility of assistant manager??John Carver.
“The club will make a further announcement in due course.”
Pardew made 128 appearances for Palace between 1988 and 1991 and scored the??winning goal in his side’s famous FA Cup semi-final win over Liverpool in 1990.