The French giants had made the Sweden international one of their possible targets but the striker is unwilling to move to a side that he does not yet consider a top club
The capital side are keen to strengthen their squad after missing out on the Ligue 1 title in 2011-12, and have already been linked with both Alexandre Pato and Ezequiel Lavezzi.
The Brazilian has been a target for the club since the start of the year, while the Napoli attacker has reportedly turned down interest from Inter in favour of a move to the Parc des Princes from Napoli.
However, Aftonbladet claimed today that former Ajax and Barcelona star Ibrahimovic is also a target for Carlo Ancelotti and his sporting director Leonardo.
The Swedish paper quoted unnamed sources at PSG, who confirmed contact between club and player.
"PSG have been in dialogue with Adriano Galliani about Zlatan but we are keeping a low profile because we know we would struggle to pay his wages," the source explained.
The same newspaper also quoted a spokesman from Milan, who stated that the Italians would be reluctant to let the Sweden international go.
"With Leonardo and Carlo Ancelotti at PSG, it is obvious that they want to sign our players. But it remains to be seen how serious they are. We would not want to let him go straight away. His wages are a heavy burden for us but that would be the case for any club in the world."
Meanwhile, Goal.com has learned that Milan have not responded to PSG's inquiry as they need time to consider the ramifications and possible replacements should they decide to sell Ibrahimovic.
The player himself is also unwilling to move to the Parisians as he does not consider them a top-level club, and that is his priority at this stage of his career.
The Ancelotti factor also does appear to weigh in his decision; unlike fellow Rossoneri targets Pato and Thiago Silva, Ibrahimovic has never been coached by the Italian and has no relationship with him.
Ibrahimovic has been at Milan since 2010, lifting the Scudetto in his debut season.