Senegal international Souare, 26, who joined the club in January 2015 from Lille, also suffered jaw injuries in the accident.
"It was a terrible accident and we have a huge debt to the air ambulance and the terrific surgeons he's had," Pardew told a news conference.
"He's in decent spirits and obviously the players and myself have been with him, and particularly our doctor, who's been keeping our spirits up.
"We hope he'll be released from hospital on Saturday, and we think he'll make a full recovery.
"In four, five, six months he should be up and running again."
Palace play at home to bottom-of-the-table Stoke City on Sunday.
(Reporting by Steve Tongue; editing by Sudipto Ganguly)
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