The two teams are tipped to be the main contenders for the Ligue 1 title this season and Monaco, following their 2-0 win over Marseille on Sunday, now trail the champions at the top of the table by just three points.
"I always ask my players to give the best they can, their maximum, during training," Ranieri told reporters.
"That's our philosophy. Then, Paris have to win the trophy. Us, we have to make our own season."
Monaco host PSG in Ligue 1 in a fortnight.