The Gremio striker has been on the Claudio Ranieri's radar since last season after he bagged 17 goals in Brazil.
Leicester were one of those linked with the 23-year-old in the summer, but they baulked at his £20m asking price.
And now, according to Globo Esporte, PSG are ready to swoop for Luan in January.
The French champions have scheduled talks with Gremio for December 15 in the hope a deal can be completed before next month's transfer window.
Gremio are aware of Luan's desire to play in Europe, but they are reluctant to let him go unless they can bank over £20m.