The 2006-born midfielder has quickly become a jewel in the crown for the French champions since signing his first professional deal last season, having played 31 times for the senior team under Christophe Galtier.
Zaire-Emery became the youngest player in PSG's history in a 5-0 win over Clermont on the opening day of the 2022-23 Ligue 1 season, coming off the bench at the age of 16 years, four months and 29 days.
From then on, the Parisiens academy graduate featured regularly in a variety of roles for Galtier, largely operating in the centre of the park but also impressing as an emergency right-wing back.
Zaire-Emery also became PSG's youngest-ever goalscorer at 16 years, 10 months and 25 days with an effort against Montpellier HSC on February 1, ten days before he scored a consolation in a 3-1 loss to Monaco.
Following the summer departure of the long-serving Marco Verratti, Zaire-Emery's influence under Luis Enrique has only grown, as he has set up five goals in his opening 11 games of the new term.
The 17-year-old registered two assists in Wednesday's 3-0 Champions League beating of AC Milan, and he already has four caps for Thierry Henry's France Under-21 team, whom he captains.
Zaire-Emery's existing contract at PSG only runs until the end of the 2024-25 season, and according to Sport Zone - via TEAMtalk - Man City have registered their interest in the midfielder.
Bundesliga champions Bayern Munich - whose desire to sign a new midfielder is well-documented - are also in the running, but Zaire-Emery is believed to have agreed a deal in principle with PSG over a new contract.
Nothing has been signed between the two parties yet as the final details are still being ironed out, but PSG are said to be totally relaxed about the situation, in spite of claims that Man City could try their luck in January.
Zaire-Emery - who does not turn 18 until March 2024 - boasts a total of two goals and five assists in 42 senior matches for PSG, who will still attempt to tie him to fresh terms before the January window opens.
After bidding farewell to the Barcelona-bound Ilkay Gundogan, Man City brought in Matheus Nunes and Mateo Kovacic in the summer window, but the Citizens could sanction Kalvin Phillips's exit in January.
The former Leeds United midfielder has only played a bit-part role at the Etihad since arriving in 2022, and Guardiola has refused to rule out a move away for the 27-year-old over the winter.
Phillips has also suggested that he may have to seek out opportunities elsewhere with one eye on Euro 2024, although he has remained a trusted member of Gareth Southgate's England squad since leaving Elland Road.
A recent report claimed that Phillips was "very likely" to depart Man City in January, and all of Arsenal, Newcastle United, Everton and Juventus could battle it out for his signature.