A Blues win in the competition would consign the Magpies to the Europa League, even if they manage to hold onto fourth spot in the Premier League.
"It would be a kick in the teeth for us," Pardew told talkSPORT. "We don't want Chelsea to win the Champions League because we want that spot, along with Tottenham and Arsenal.
"It would be very harsh if we finished fourth and then missed out on the Champions League."
Pardew previously said that he would "gulp on [his] beer" if Chelsea won the Champions League.
Roberto Di Matteo's side take on Bayern Munich in the final at the Allianz Arena on May 19.