The Italy international has been an integral cog in the Parisiens midfield for over a decade since joining from boyhood club Pescara in the summer of 2012.
While on the books at the Parc des Princes, Verratti has garnered a reputation as one of Europe's leading midfielders, and he has made 414 appearances for PSG, only behind Jean-Marc Pilorget's 435.
Verratti has contributed 11 goals and 61 assists in that time, setting up one goal in 36 matches during the current campaign, although his PSG career has been hampered by a spate of injury problems.
Back in December, the 30-year-old agreed a new deal with Christophe Galtier's side until the summer of 2026, but his future has since been called into question amid a difficult few months.
Verratti has been the target of verbal attacks from PSG's ultras throughout the season, and according to L'Equipe, the midfielder could now bid his farewells this summer.
The report claims that Verratti is keen to seek pastures new due to the club's persistent internal turmoil, and football advisor Luis Campos would not stand in his way of a departure.
On the other hand, president Nasser Al-Khelaifi is said to be strongly against letting the Italy international leave, but due to the close relationship between the pair, Verratti might be able to twist his arm.
Real Madrid boss Ancelotti, who has confirmed that he plans to stay on at the Bernabeu for the 2023-24 season, could apparently try to take advantage of the uncertainty by making a move for his compatriot.
However, PSG and Real Madrid's hierarchies are not thought to be on good terms given the Kylian Mbappe saga, while other clubs are ready to battle for Verratti's signature also.
Juventus and Inter Milan could try to tempt Verratti back to his homeland, and the former could have the upper hand in the race if Massimiliano Allegri - whom Verratti is close to - continues as manager.
Neither Juve nor Inter will consider a move until their league placements are settled, though, and a move to Saudi Arabia is not beyond the realm of possibility, but Verratti does not consider a move to the Middle East a priority.
Real Madrid are already set to bolster their midfield ranks this summer with the signing of Jude Bellingham, who is believed to have finalised personal terms with Los Blancos as they try to strike a nine-figure deal with Borussia Dortmund.
Veterans Luka Modric and Toni Kroos are also expected to sign short-term extensions, although the futures of both men beyond the end of next season remains up in the air.
Verratti played the full 90 minutes in PSG's 2-1 win over Auxerre on Sunday, and Galtier's side need just one point from their final two fixtures with Strasbourg and Clermont to retain their title, which would be the Italian's ninth since his move to Paris 11 years ago.