The 29-year-old made 22 league starts for PSG and another 17 appearances from the bench, scoring just once, but has started all 16 of Palace's league games this season and already has five goals to his credit.
Cabaye scored the only goal against Southampton on Saturday and Pardew hailed the France international as someone who could single-handedly change the course of a game.
"He delivers in training, he delivers on match day, he delivers when you're up against it," Pardew told the British media.
"He can pull you out of the mire. That's what great players do -- and that's what gets you into the French national side.
"If (France coach) Didier Deschamps wants to know how Yohan is performing, he'd need only see a recording of that game. He was terrific.
"He's settled in easily, the other players respect him and understand him, and he's a special talent.
"I'm fortunate to have him here but we as a club have earned that right to bring in good players like Yohan Cabaye.
"We need to go and find ourselves another one, maybe two, and then we'd be a really good team."
(Reporting by Simon Jennings in Bengaluru; editing by Sudipto Ganguly)
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