Kenny Dalglish has already signed Andy Carroll and Jose Enrique from the North East giants over the past year, but the Magpies' boss is determined not to let another of his top stars leave St James' Park.
The Argentina captain still has another season to run on his existing contract but Pardew is hopeful of keeping the 29-year-old at the club.
He told the Daily Mail: "Liverpool like looking at our players, don't they?
"He's been outstanding for us as a captain and a player and we're in negotiations with him on a new contract."
Pardew is also keen for Hatem Ben Arfa to find his form. The France international has struggled to recover from the broken leg he suffered from a Nigel De Jong tackle last campaign.
But the Toon boss believes his £5million buy needs time to find his form after failing to make an impact in the midweek Carling Cup defeat at Blackburn.
He added: "Perhaps too much is expected of Hatem.
"I didn't think it was his best game at Blackburn, he'll play a lot better than that. It's difficult as a striker to come into the team and have an immediate impact, especially when you've been out for a long, long time.
"Possibly he's trying too hard to make an impact. With Hatem it's a question of being patient and above all him being patient, to make sure he gets himself right, because when he does he'll be a fantastic player for us."
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