The former Newcastle midfielder believes the club should have build their team around the target man instead of accepting Liverpool's £35 million bid.
The now West Ham striker left the Magpies for £35 million in 2011, moving to Liverpool - where things did not quite work out for the forward.
And Barton, who played for Newcastle for four years, feels the club should have turned down Liverpool's big-money offer for Carroll.
“For me the catchment area, the passion of the fans and the tradition of the club is there. It’s not a selling club, and it shouldn’t be a selling club," the QPR midfielder told the Newcastle Evening Chronicle.
“The money they got for Andy Carroll was phenomenal money at the time. It looks great value now. But he was a boy born in the area, he was the classic iconic number 9 that English football thrives on.
“He is the type of player that northern football people thrive on - he should have been priceless.
“How long do strikers that are born within a stone’s throw of your ground come through with the ability Andy had and the passion for the football club?"