Despite reports linking the Argentine defender with a move back to his homeland, the Magpies boss has revealed the 31-year-old will remain at the club until the end of the season
The Argentine defender was previously reported as being unhappy at the Magpies, with a move back to South America his preferred solution.
However, Pardew has now revealed that the 31-year-old will stay at St James Park until the end of the season, while he will also keep the captain's armband.
"Coloccini will stay and will remain captain," Pardew told reporters at a press conference on Friday.
Coloccini was initially believed to want a move back to Argentina to deal with personal matters, while it was recently reported that he told club officials he would not play another game for the Magpies.
San Lorenzo was touted as a possible destination for the centre-back, but the Argentine club recently announced that Coloccini would not be joining their ranks despite "long negotiations".
Meanwhile, it is believed Coloccini will re-assess his situation at the end of the current season.