The 20-year-old arrived at the Parc des Princes on a season-long loan from Reims last term but has unsurprisingly struggled to break up the established order of Lionel Messi, Kylian Mbappe and Neymar.
Ekitike has managed just four goals and four assists from 30 appearances under Christophe Galtier this season, starting a mere 10 games in the French top flight and coming off the bench in a further 13.
However, the Frenchman has been named in the first XI for PSG's last two Ligue 1 fixtures and came up with an assist in Saturday's 5-0 demolition job of AC Ajaccio, having been given the nod alongside Messi and Mbappe in the final third.
As things stand, Ekitike will return to Reims for pre-season unless PSG trigger their option to make his deal permanent, and according to L'Equipe, Frankfurt have taken an interest in his services.
The report claims that Die Adler have made an offer to sign Ekitike on loan for the 2023-24 season, after which his contract at Reims is due to expire.
Despite being left dissatisfied with several of his performances, the report claims that PSG will still take up their offer to buy the 20-year-old if they finish in the top two of the Ligue 1 table this season.
Such an eventuality is almost a formality for the reigning champions, who sit six points clear of Lens and a further eight above third-placed Marseille with just three games remaining.
PSG are reportedly set to fork out €35m (£30.5m) to acquire Ekitike's services permanently, but they could be open to letting the striker depart this summer, in spite of his desire to stay put.
Frankfurt are apparently convinced that they can provide Ekitike with a platform to reignite his career in Germany, and they have also made a bid of €20m (£17.4m) for teenage defender El Chadaille Bitshiabu.
Prior to his switch to the Parc des Princes, Ekitike provided 11 goals and four assists in 26 games for Reims during the 2021-22 season, and he could make his third successive top-flight start when PSG travel to Auxerre this weekend.
As well as Ekitike, the futures of Neymar, Mbappe and Messi have also been hotly-debated topics throughout the course of the campaign, and the latter is now seemingly destined to bid farewell at the end of the season.
The Argentine's suspension for an unsanctioned trip to Saudi Arabia has now been lifted, but PSG have apparently decided against renewing his contract beyond the end of the season.
Meanwhile, Neymar - who is out for the rest of the season with an ankle injury - is reportedly the subject of Premier League interest from Chelsea and Manchester United, and he could be allowed to depart as PSG aim to enter a new era with young talent.
Mbappe seems the least likely out of the three to leave this summer, though, as the Frenchman has affirmed that he wants to help PSG win the Champions League after several failed attempts.