The Magpies just missed out on the top four but would have been denied qualification for Europe's premier competition anyway by virtue of Chelsea's win in the final
The Magpies finished four points behind Tottenham in fifth and were rewarded with qualification for the Europa League next season.
However, Spurs must now drop into that competition at the expense of the Blues, and the 50-year-old confessed he would have been "heartbroken" to miss out in that manner.
Pardew told reporters: "I wasn't too disappointed at missing out on the Champions League.
"We would have been more heartbroken if we had finished fourth, but missed out to Chelsea after they won the Champions League" - Alan Pardew
"We would have been more heartbroken if we had finished fourth, but missed out to Chelsea after they won the Champions League.
"That would have been tough to take, as I'm sure Tottenham felt, but we're really pleased to be in Europe, absolutely delighted."
The former Southampton boss also set his sights on the Magpies improving their league position further next campaign.
"For next season it's important we set realistic goals, and we'll have to look at what team we start with," he added.
"If all the players come through the European Championships and everybody is fit and well, then we'll go for a high finish."
Pardew, who will be at the Monaco Grand Prix as a guest of the Marussia F1 team, also expressed his desire to add new blood in the summer.
"This is a nice break with a couple of my staff just to chill out," he continued.
"Then I'll take my family away for a couple of weeks, and then I'll start gearing up for the new season.
"Pre-season is all sorted, so we're just looking forward to what we hope will be a successful transfer window, with one or two in and taking the team forward.
"I'm looking forward to the Euros, and of course I'll take a bit of that in."