The Mirror reports that the Ligue 1 giants are hoping they can persuade Queens Park Rangers to sell the Moroccan international in the January transfer window.
PSG had a £15million bid for the playmaker turned down in the summer. The French side are now ready to make an bid of £14million up front plus a further £6million in add-ons for Taarabt.
QPR chairman Tony Fernandes and manager Neil Warnock have insisted they are keen for Taarabt to remain with the club.