The Frenchman is in-demand following his consistent performances for AC Milan last year, during which he recorded a combined eight goals and assists across the Serie A season before the top flight was cancelled.
Hernandez reportedly feels happy, settled and ‘connected’ to Milan; so it would take a sizeable bid, of more than €55m, for his club to even consider negotiating the sale of the defender.
Pep Guardiola will want to reinforce the left side of Manchester City's defence, with his main left-back Benjamin Mendy frequently struggling with injury problems.
PSG, meanwhile, are looking to replace Layvin Kurzawa, whose contract will be expiring at the end of this season, whenever that comes.
Regardless of his destination, a move away from Italy would mean Hernandez earns Milan a considerable profit as they paid only €20m for the 22-year-old who arrived from Real Madrid last summer.
Follow us on Twitter for live updates: @City_Xtra