This is the first time a Magpies manager has been awarded the accolade.
Pardew has turned the Magpies' fortunes around during a remarkable Premier League campaign that exceeded all expectations.
Newcastle are currently fifth in the league, and could yet end the season with Champions League football.
Pardew has also been responsible for a number of influential and highly successful signings, most notably Senegalese strikers Demba Ba and Papiss Cisse.
The Wimbledon-born boss also brought in Lille's Yohan Cabaye, who has impressed in Newcastle's midfield.
Meanwhile, City captain Kompany has been named the Player of the Season.