The Ligue 1 champions have already broken their transfer record this summer with the €64 million capture of Edinson Cavani from Napoli, as well as recruiting defender Marquinhos from Roma and Lille's Lucas Digne.
But Blanc's recruitment drive shows no signs of slowing just yet and a bid for Cabaye could be imminent after he revealed his desire to acquire his services before the end of the current transfer window.
"He is a very good player," Blanc told Le Parisien. "I have not changed my mind.
"For now, he is at Newcastle, I also read that Tottenham were interested.
"Newcastle, Tottenham or Paris; I hope that he will be at a big club in September."
Cabaye left Lille to join Newcastle in 2011, but reports have linked him with a move back to his homeland as well as Premier League champions Manchester United.
The 27-year-old has made 60 appearances for the Magpies in the Premier League, scoring 10 goals, with that form helping him to become a firm fixture for France at international level.
PSG kick off the defence of their Ligue 1 title with a trip to Montpellier on Friday evening.