The Senegalese winger has been one of the Reds' top performers since the turn of the year, with his goals helping them to Carabao Cup and FA Cup successes.
But, with his contract expiring next summer, he could be set to leave the club this summer, according to journalist Christian Falk.
The strong interest being shown in him from PSG and the potential salary increase he could receive in the French capital are said to be why he is hesitant to sign a new deal at Liverpool.
With Kylian Mbappe set to leave the club for Real Madrid this summer and Angel Di Maria also likely to depart, the Ligue 1 giants are looking for a new forward to partner Lionel Messi and Neymar.
But they will reportedly face competition from Bayern Munich to sign Mane, with the German champions also interested in the Premier League man.
Mane's agent has recently met with Bayern sporting director Hasan Salihamidzic regarding a potential transfer.
His current deal ends in 2023 and reports claim he will be offered a new deal this summer in a bid to fend off transfer interest from some of Europe's top clubs.
With Mo Salah's contract also expiring next summer, Liverpool will be keen to tie both down to new deals and keep hold of two of their star men.
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