Ligue 1 side preparing summer bid for Portuguese midfielder.
PSG are set to join the race to sign Porto midfielder Joao Moutinho according to talkSport.
The news will come to the dismay of Tottenham, who are known to be keen admirers of the player.
The White Hart Lane club were reportedly close to agreeing a £22 million deal for the midfielder las summer, only for negotiations to break down on transfer deadline day.
They were linked with the player again during the January transfer window but a move failed to materialise.
Tottenham boss Andre Villas-Boas knows Moutinho well from his time in Portugal and is thought to have remained keen to join up with the player in the Premier League.
The prospect of that has diminished somewhat with reports suggesting that PSG are set to make a big money offer for the player.
Tottenham are unlikely to be able to compete with the wealthy French club in terms of finances with the Ligue 1 side currently bank-rolled by their owners, the Qatari Royal family.
Spurs were already being pushed to their limits when negotiating a potential £100,000 a week deal with Moutinho last summer and it is thought they would be unwilling to offer an amount in excess of that figure.