A source close to PSG said no bid was imminent and denied Bild reports that the French-born hot-shot, who has scored 35 goals this season, has already met PSG director of football Patrick Kluivert in Paris.
Aubameyang, 27, could reportedly earn up to 14 million euros per season at PSG, double his current salary.
Dortmund are set to receive an offer from PSG when their season finishes after the German Cup final on May 27 against Eintracht Frankfurt, reports said.
The Gabon international, who was born in France, has repeatedly said he wants to eventually join Real Madrid or at least play in the Spanish league, but he has family in Paris.
The striker has three years left on his Dortmund contract, but has hinted he may leave at the end of the season and the German club has not ruled out selling him.
Amid numerous reports in Germany about a move to the French capital, ex-Germany striker Lukas Podolski says it would be a good move for Aubameyang.
"He comes from France, speaks the language, his family is there," Podolski wrote in a column for Bild.
"But he has to ask himself: do I have the same feeling as in Dortmund? He is the superstar at Borussia. Saint-Germain has lots of them.
"Plus Dortmund is also among the top eight to 10 clubs in the world and he enjoys certain liberties there. Would he get the same at another club?"