As exclusively revealed by Goal, the striker is set to head to the North East after Newcastle agreed a €2 million [£1.6m] loan fee with the option of making the deal permanent for a further €8m [£6.4m].
The 23-year-old is one of a host of players who have grown increasingly concerned at the ongoing violent unrest in Ukraine, and Newcastle are understood to be confident of sealing the loan in the coming days.
"It's something that is not done, but we're working to see if that can happen," Pardew told BBC Newcastle.
"Facundo is a good presence on the pitch, a big guy at six foot two inches, a player who has gone to the Ukraine and has been okay.
"If we manage to secure him, he would be a player who we'd expect to do a lot better here."
As exclusively revealed last week, Newcastle are also montoring a return for former loanee Loic Remy but Pardew has now hinted that the player is not keen on the switch and possibly abandoning the pursuit.
"We've not really had much contact with Loic and I don't see that evolving if I'm honest," he said. "Whatever happened at Liverpool is irrelevant really, because he's had plenty of chances to come to us.
"We've made it clear we'd want to have him but it hasn't really happened and therefore you sometimes have to say where is the line drawn? Maybe that one has gone away."