The Clarets have just enjoyed a sensational bounce-back campaign in the Championship, cruising to the title which has regained their spot in the Premier League.
Vincent Kompany has been given licence to make a number of shrewd signings, putting together a relatively youthful squad, but further additions will follow during the summer.
Burnley have already confirmed that the likes of long-serving pair Matthew Lowton and Ashley Barnes will depart Turf Moor on free transfers, a sign that arrivals will soon follow.
However, it appears that the North-West outfit are ready to make one of the more ambitious moves thus far in an attempt to kick-start their business.
According to Foot Mercato, Burnley will prioritise a deal for Ruiz, who has spent the last phase of his career competing at the highest level.
After four years with Napoli, Ruiz made the switch to PSG last summer and went on to make 24 starts and 10 substitute outings in Ligue 1 and the Champions League during his first campaign at Parc des Princes.
The Spain international, who cost in the region of €21.5m, chipped in with three goals and two assists, while he possesses a contract until 2027.
Nevertheless, PSG are keen to shake-up their squad ahead of 2023-24, a result of needing to boost their position with FFP and wishing to adopt a new strategy of signing younger players.
That can only be achieved if a number of notable sales are facilitated, and Ruiz falls into the bracket of an asset that is available for the right price.
The report says that, as it stands, the 27-year-old has little interest in entertaining a switch to Turf Moor, preferring to keep to his lucrative deal in Paris.
Depending on PSG's valuation of Ruiz, Burnley may target a loan agreement, which could enable Ruiz to continue to collect the same wages that are tied into the remainder of his four-year terms.
Ruiz was linked with the likes of Real Madrid and Barcelona before he eventually signed for PSG, yet such a move is now unlikely to be on the table.