Cavani and Meunier are among several PSG players whose contracts expire on June 30, as well as defensive pair Thiago Silva and Layvin Kurzawa.
But while Kurzawa and Silva look set to accept the offer to stay until the culmination of the Champions League, Goal can confirm that the French champions will lose two key players as they prepare to compete for continental honours.
PSG are one of four teams that clinched their spot in the quarter-finals of the competition prior to its interruption due to the coronavirus epidemic, alongside Atalanta, Atletico Madrid and RB Leipzig.
This week the club learned that the Champions League will be completed inside August at Benfica's Estadio da Luz home in Lisbon, with the last eight, semis and final set to be decided over a single match while the remaining last-16 fixtures will be completed over two legs.
As the only remaining participant currently not involved in league football, due to Ligue 1's decision to end the 2019-20 season early, PSG will not face any competitive action before lining up for their quarter-final clash, while the absences of Meunier and Cavani will also be keenly felt despite the club's enviable squad depth.
The Uruguayan had been at Parc des Princes since moving from Napoli in the summer of 2013, scoring 200 goals in 301 matches in all competitions and winning Ligue 1 in six of his seven seasons with the club.
PSG have also learned that Under-16 captain Gloire Bunga will not pursue his career at Parc des Princes.
The talented teenager will sign a three-year deal with Freiburg after failing to come to terms with his current club, a decision similar to that taken by France U-18 international Tanguy Kouassi who has turned down a new contract in order to join Bayern Munich.
There was some positive news between the posts, as PSG reached an agreement to extend the loan deal of Sergio Rico until the end of the Champions League.
The Sevilla goalkeeper has acted as Keylor Navas' deputy for most of the 2019-20 season, making just eight appearances in all competitions.