The Argentina international has been performer in recent years.
Following the arrival of Cristiano Ronaldo last summer, his displays dipped somewhat.
But since joining the Old Lady in 2015, he’s still bagged 57 goals in 128 games.
Dybala was linked with a move to Real Madrid last summer although a deal failed to get over the line.
READ MORE: Man Utd agree £80m Harry Maguire transfer
“Man Utd are battling for Paulo Dybala”
Nevertheless, according to RMC Sport, PSG are now seriously monitoring his availability.
The future of Neymar remains in serious doubt at the Ligue 1 giants.
The Brazil international is keen to depart and PSG are willing to sell if the price is right.
It’s suggested bigwigs in France are now lining up Dybala as a replacement.
That could put them on a collision course with Manchester United.
Ole Gunnar Solskjaer is also an admirer and has been monitoring his progress closely.
With transfer sagas in full swing, Romelu Lukuka would need to be offloaded first, though.
PSG sporting director Leonardo openly invited offers for Neymar earlier this week.
Real Madrid – or his former club Barcelona – look to be the only realistic destinations.
It’s claimed the Catalans have already had £36m, plus Ousmane Dembele and Philippe Coutinho, turned down.
Barca have already swooped for Antoine Griezmann but would relish the opportunity to pair up the Frenchman with Neymar and Lionel Messi.
“It’s clear to everyone,” PSG sporting director Leonardo told La Parisien.
“But in football, you say one thing today and tomorrow another. It’s amazing but it’s like that.
“Yes [I have spoken to Neymar]. I do not want to tell all the details of the conversation.
“We talked with his entourage too. Everyone knows everything. The position is clear for all participants.
“But one thing is concrete today: he still has three years of contract with us. And since we have not received an offer, we cannot discuss anything.
“Neymar can leave PSG, if there is an offer that suits everyone.
“But to date, we do not know if anyone wants to buy him, or at what price. All this is not done in a day, that’s for sure.
“PSG wants to rely on players who want to stay and build something big. We do not need players who would do a favour at the club by staying here.”