Sky Sports say PSG are keen on the Arsenal ace and Brazilian sensation.
Neymar reportedly has a £195m release clause in his contract.
A source told Sky Sports that PSG "have been - and still are - interested".
Reports earlier this evening suggested the Ligue 1 giants will pay €222m [£198m] to secure the 25-year-old’s signature and the transfer will be complete within the next two weeks.
PSG’s new signing Dani Alves, who played with Neymar at Barca before leaving in 2016, is reportedly key to the deal.
The ambitious French side also want Sanchez.
The Chile international, 28, is entering the final year of his contract and is yet to pen an extension.
Despite interest in his star man, Arsene Wenger said earlier today that he will not sell Sanchez.
The Frenchman said: “The decision has been made and we will stick to that.
"The decision is not to sell.”
Sanchez hinted on Chilean radio last week that he's vying for an exit.
He said: "I want to play in the Champions League.
"I've made my decision, now I wait for Arsenal's reply.
"The idea is to play and win the Champions League.
"I've dreamt about it since I was a kid."
