Several clubs are interested in the 19-year-old, including Leeds United, Rangers, Marseille and AC Milan.
His contract is up in the summer, meaning he could leave for an overseas club for a set compensation fee of £300,000. If he joins an English club, Albion will receive compensation at tribunal.
The Baggies have already rejected a multi-million pound bid for Roberts but the prospect of losing him for so little could persuade them to cash in on Roberts before the January window shuts on Wednesday.
However, Pardew has brought Roberts into first-team training since his return from his loan at Walsall and is keen to see Roberts 'up close in the nitty gritty of top level football'.
The Baggies have offered him a new deal but he's yet to agree to sign one yet.
"I’m bringing him back because I think he’ll be important to the team," said the Albion head coach.
"There is some interest from other clubs and I’m very keen to keep him here. We’re in discussions with his agent and the player to secure that.
"I don’t know about (losing him for) very little, but it would be in the hands of a tribunal. Sometimes those tribunals can make that very painful."