Pardew wants to bolster his attacking options after the club flirted briefly with relegation towards the end of the season and believes Berbatov and Ba can improve their fortunes next term, according to The Sun.
The Bulgarian international is still smarting after being left out of the Champions League final squad, and Ba is hopeful of a return to the Premier League following relegation with the Hammers.
Play that Toon: Berbatov (left) and Ba (right) are being eyed by Newcastle boss Pardew
Newcastle could meet United's ?7.5million valuation of the Bulgarian forward, 30, and Ba is available on a free after the East End club dropped into the Championship.
Owner Mike Ashley would also be able to meet Berbatov's wage demands due to the ?35m windfall the club received in January following the departure of Andy Carroll.
Berbatov grew up supporting Newcastle and won the golden boot this season along with Manchester City's Carlos Tevez after hitting 21 league goals. But he did not even make the bench for Saturday's clash with Barcelona.
The only way is up: Pardew is making moves to ensure a better showing from Newcastle next season
However, his United team-mate Nani has urged him to remain at Old Trafford, despite missing out on the showpiece final at Wembley.
'When I wasn't playing, maybe 18 months ago, I was in a different position to him because I was still young,' said the Portugal international.
'I was 21 and I knew I had a lot of time to learn, to improve and get my place back in the team. For him, I don't know what he has in mind but everyone knows he's a fantastic player.
'He has scored a lot of goals, and I would like him to play for Manchester United again next season.'
Sunderland and Everton have also joined the race to sign wantaway West Ham striker Ba, but Pardew is in a position to beat any offer either club could make.
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Explore more:People: Mike Ashley, Andy Carroll, Dimitar Berbatov, Carlos Tevez, Nani Places: Newcastle, Barcelona, Portugal