There was fury on Tyneside when, in January 2011 and despite the manager's repeated assertions to the contrary, Carroll was allowed to leave St James' Park for Anfield.
The 23-year-old will return tomorrow along with former Magpies team-mate Kevin Nolan, who departed for London five months later after contract negotiations broke down, wearing the claret and blue of West Ham.
Carroll is currently rebuilding his reputation on loan at Upton Park under former Newcastle manager Sam Allardyce after failing to find favour with new Liverpool boss Brendan Rodgers, but Pardew believes the proceeds of the initial switch were central to what has been achieved since. He said: "The position we are in, if I'm honest, is because we used the money from Andy's sale well.
"He was a brilliant player for us, but the fee was astronomical. We have used it well and we owe a great debt to him.
"It's nice to see Kevin come back. He did a super job here.
"I'm looking forward to seeing them both and I enjoyed working with them.
"There will be a lot on the game. Kevin will be determined to get a result, as will Andy and the manager coming back."