The Ligue 1 outfit are keen to bolster their attacking options in the summer and have set apparently set their sights on the South American pair
L'Equipe claims that PSG president Nasser Al Khelaifi met with the players last week in order to lure them to the Parc des Princes.
PSG coach Carlo Ancelotti is looking to fine-tune his squad as they prepare to return to the Champions League next season.
Kaka has nearly returned to his best form after being plagued by injuries in his first two years at the club, but has only started two of Los Blancos' last 10 matches.
Madrid will not reportedly stand in the way of Kaka's transfer, as the Brazilian is one of the squad's highest-paid players at roughly 10 million euros per year.
Higuain has been linked with a move away from the Santiago Bernabeu in recent times after dropping down the club's pecking order as a result of Karim Benzema's rich vein of form.
A report in the Spanish press earlier on Saturday claimed that the Argentine's agent will be in Madrid at the weekend to discuss the striker's future with the club.