Hughes is excited about what the 24-year-old can offer after getting his career back on track last term, netting three times during a half-season spell with Las Palmas in La Liga.
Speaking to the club's official website, the Welshman said: "The top and bottom of it is that Jese's an elite player. When you get the opportunity to bring one of those level of players to your club you have to try and pursue it to its conclusion.
"You won't get many of them over the line. I think everybody will see within minutes of him being on the field that he is a high-level player and one that we will benefit from."
PSG paid £21m to sign Jese from Real Madrid last summer, but he has so far managed just one league start in the French capital.