The Spaniard moved to St James' Park from Tenerife in the close-season and found the net in three successive Premier League games prior to the international break.
Those goals invited some to draw comparisons between the 21-year-old and Shearer, who scored over 200 times for the club, but Pardew insists any such talk is wide of the mark.
"At the moment, he's fearless," he said. "He's got the wind in his sails and is going along very nicely. He's been very sharp in training. He's a threat.
"If you take your eye off him, he's a predator. I'm sure QPR will be having conversations of how to look after him [on Saturday].
"He's difficult to pin down, his movement is very clever.
"But he's a young player. Some of the headlines have been way off the mark - the new Alan Shearer, the new Andy Cole.
"This is a boy who has played three games. Those players are legends and have done it all.
"Ayoze is just setting foot in the Premier League, but I have to say he's done really well so far. I'm pleased with him."
