PSG boss Carlo Ancelotti has drawn up a shortlist that also includes Real Madrid's Gonzalo Higuain and Valencia's Roberto Soldado as he looks to strengthen his attacking options in the summer, according to the Sunday Times.
Suarez's future at Anfield has come under much speculation, with Serie A leaders Juventus rumoured to be weighing up a £30m bid for the Uruguayan, although the player himself recently said he was staying with Liverpool.
Dzeko, who has been unable to secure a first team place at City this season after his £27m move from Wolfsburg last January, has also been linked with Juventus.
His agent Silvano Martina recently told TuttoJuve that Dzeko is not interested in a move away from Manchester and is '100 percent' certain to stay at the Etihad Stadium.
PSG are currently second in Ligue 1.