Nasri has endured an inconsistent season, with manager Roberto Mancini recently admitting to wanting to punch the playmaker.
However, the Ligue 1 leaders are preparing a move for the 25-year-old, according to The Express.
The Parisians are also interested into Newcastle's Cabaye, with PSG's director of football Leonardo saying that the club are trying to develop a French core to their squad.
"The idea of seeing great French players here is something I like," Leonardo is quoted as saying.
"I'm not necessarily talking about Karim Benzema, but maybe Samir Nasri, Franck Ribery or Yohan Cabaye. We do want a larger squad with adequate cover, in order to avoid the sort of problems we had in January in midfield, with injuries and suspensions."
Nasri moved from Arsenal to the Etihad in August 2011, with Cabaye joining the Magpies from Lille in the same transfer window.