Despite bringing Loic Remy in on loan, Newcastle were the only Premier League side not to sign a senior player during this summer's transfer window.
However, Pardew believes that the club's dealings in the previous January window, coupled with Remy's loan deal, will provide him with a squad of players capable of competing this season.
"It's important sometimes to understand that we have a very good team," Pardew told Sky Sports News.
"We invested £30-odd million in the last window, we have brought Remy in. We have brought a lot of young players here who I think, will hopefully, blossom. That's why they were brought here. The likes of Sammy Ameobi and Paul Dummett, part of my management is to develop players."
Newcastle are back in action after the international break as they visit Villa Park to face Aston Villa on Saturday.