Taarabt, 22, was the creator in chief at Loftus Road last season and was the catalyst of their Championship success.
QPR are hoping to hold onto their captain for the upcoming Premier League campaign, but the schemer is being pursued by several teams..
Chelsea and Arsenal are just two of the clubs linked with the attacker, and Sky Sports are now reporting that PSG have moved first for the Moroccan.
The Ligue 1 club are backed by Qatari owners who have already landed Leonardo as sporting director and convinced France striker Kevin Gameiro to join from Lorient last month, turning down a move to England in the process.
They are also being linked with Samuel Eto’o after the Cameroon international hinted at a move away from Serie A this summer.
Moroccan international Taarabt is rumoured to be their top target now and they will wait to see how QPR respond to their formal interest.
The 22-year-old joined the English outfit permanently from Tottenham last summer after two successful loan spells.
He has made 96 appearances and netted 27 goals, 19 of them coming in the Championship winning season.