The winger terrorised Liverpool???s midfield and defence throughout the game and scored from a first-half free-kick to cancel out Adam Lallana???s opener.
Palace went on to score twice more after the break to end a run of four consecutive defeats in convincing fashion.
Pardew said Puncheon???s display had been perfect response to being dropped from the starting XI for the home defeat to Manchester United last Saturday.
He told Sky Sports News HQ: ???I???m glad you gave him man of the match because that was the correct decision. He was terrific today.
???Sometimes Punch is the type who needs a little nudge every now and then, but since I have been here he has been the best player and he orchestrated most of our best stuff today.???
Palace remain 12th in the Premier League but victory moved them on to 45 points and within two points of the top half of the table.
Pardew added: ???We gave a level of performance that we gave against Manchester United and Chelsea, but we won today because the breaks fell our way and we created a few more chances.
???It was an excellent performance from us and I???m highly delighted by the way we played and conducted ourselves.
???Now we have got a chance of catching West Ham or Everton in our last game, and that is what we are going to try and do.???
Palace???s win spoiled Steven Gerrard???s final game for Liverpool at Anfield, but Pardew insisted it had still been a memorable occasion.
He said: ???It was a lovely moment at the end, when they have got the disappointment of defeat the Liverpool fans, but they weren???t going to let that hold back for Steven???s final couple of minutes.
???It was a moving moment that will stay with me and I???m sure it will stay with Steven Gerrard. We came to play our best game, we delieverd that, and that was our part and all we could do.???