Taylor suffered a cruciate knee ligament injury on Europa League duty in midweek, and looked to miss the majority of this season with the problem.
Pardew offered Toon fans some encouragement and revealed that a scan has given Taylor hope of avoiding a full season on the sidelines.
He said: "Ryan's looks quite straightforward. There's not a lot of swelling, the cruciate has detached, so it's purely a case of putting it back.
"I think he will come back a little bit quicker than most cruciate injuries."
Newcastle drew their first Premier League game without Taylor, and needed an equaliser from Hatem Ben Arfa to secure a point against Aston Villa.