The Argentine defender has been out of action since the end of February when he broke two bones in his back during a match against Southampton.
Despite reports that he would miss the remainder of the campaign, Pardew has claimed that the 31-year-old should be available for selection once he comes through some training sessions.
"Colo is training. He hasn't done full physical training - that's due to come, hopefully, this week," said Pardew.
"We are fingers-crossed because obviously that would be a big boost for us to have our captain back for sure."
Coloccini has been heavily linked with a return to his homeland during the summer.