Buffon swapped Turin for Paris in July after 17 years with the Bianconeri, during which time the legendary goalkeeper won nine Serie A titles.
European success eluded him with Juventus, though, with Buffon finishing runner-up on three occasions, including twice in the past four seasons.
Many expect Juve to go deep into the competition again after two wins out of two in Group H, with Buffon's PSG also among those tipped to challenge.
A possible reunion with his former club would be welcomed by Buffon, although not if it was in the final in Madrid on June 1.
"No [I don't want to face Juve in the final]," he told Gazzetta dello Sport.
"I do not want my joy to be a consequence of the sadness of my former team-mates and fans.
"We have already cried too many times together. I deserve full joy.
"If I have to face Juventus, it is better before the final."