Earlier this month the Germany ace claimed he wanted to leave the Volkswagen Arena after just one season at the club.
"When I transferred to Wolfsburg in 2015, we had a verbal agreement that I can leave the club when a possibility emerges. With Dieter Hecking as well as Klaus Allofs," Draxler said.
"It was obvious that Wolfsburg showed me a good perspective back then, but also served as stepping stone."
But the Bundesliga side responded by saying the 22-year-old would not be sold and insisted his £64m buyout clause only becomes active in 2017.
The best of Arsenal and Manchester United target Julian Draxler
However, German newspaper Bild say the Ligue 1 champions are ready to pay that figure now for Draxler.
It is claimed Draxler's agent Roger Wittmann is in Paris for talks with PSG about his client.
And the report suggests that should Wolfsburg sign Tottenham's Heung-Min Son, Draxler may then be allowed to leave.