The 24-year-old, whose move to the Blues in 2017 saw him become the club's then-second most expensive signing in their history, struggled to justify his price tag at Stamford Bridge and spent last season on loan with Milan in Serie A.
Having been initially sent out under Maurizio Sarri, it is not known whether Bakayoko figures in new manager Frank Lampard's plans, but he has now been linked with a return to his home country with the Ligue 1 champions, at least on an interim basis, with sources confirming to Goal that PSG are interested in landing him on a year-long deal.
Bakayoko previously stressed that he intended to return to Chelsea following the end of his loan tenure in Italy but admitted that he would love to play for his hometown club.
“Yes, for sure, one day I would like to play in Paris," he told L'Equipe. "I cannot lie about it. It’s big for me and my loved ones. We are real Parisians.
"I will go back to Chelsea. I still have a three-year contract. I have no choice. I don't know what will happen after that but I have to go back to Chelsea. It is the only thing I know."
Starting his career with Rennes, Bakayoko subsequently transferred to Monaco, where he made his name in an excellent 2016-17 campaign, helping the club to the Ligue 1 title while being named in the Champions League team of the year.
Bakayoko featured in the second half for the Blues on Saturday in their pre-season win against Bohemians in Dublin, and is expected to be a member of the party that travels to Japan in the next few days for games against Kawasaki Frontale and Barcelona.