The Magpies reportedly failed in a bid to bring Carroll back to his former club earlier this summer but Pardew admits he is still open to the idea of bringing the 23-year-old to the North East.
However, the Toon manager has revealed that any offer hinges on whether the Newcastle board agree that it is financially feasible.
Pardew said: "That is above me that deal, it is a financial deal that will be done at board level if Liverpool agree.
"If I was saying on a playing level would I like him in the squad, of course I would he would add a nice dimension to us."
Newcastle suffered their first defeat of the Premier League season on Saturday to Chelsea.