Both sides remain unbeaten so far this campaign, with the champions only recently moving above the principality club in the table on goal difference.
Like PSG in 2011, Monaco were recently taken over by rich owners and given huge finances to spend on world-class players, but Ranieri insists that his club are some way from a level playing field with the capital team.
"We're going along without looking at them," Ranieri told ESPN. "Paris are an extraordinary team. There's three years' difference between us.
"We're at the start of our construction, they are just finalising the details. PSG are built to win the Champions League."
Monaco travel to Reims in the Coupe de la Ligue on Wednesday night.