The 24-year-old was the French giants’ first arrival under their Qatari owners in 2011, and has been a key player ever since.
However, the emergence of a number of new talented stars, allied to a dip in form, has seen the Argentine’s future at the Parc des Princes called into question.
Pastore is thought to be ready to leave Ligue 1 in a bid to get his career back on track, which has alerted Liverpool and Arsenal.
Reds boss Brendan Rodgers is known to be keen to add a marquee player to his squad, with an attacking midfielder his desired option.
Offers for Willian and Henrikh Mkhitaryan were unsuccessful over the summer, but the Northern Irishman is hopeful that he can clinch Pastore.
Arsenal are also keen, with Arsene Wenger a fan of the playmaker.
Despite having signed Mesut Ozil to add to his plentiful options in attacking midfield, the Frenchman is still interested in the PSG ace.
But both sides will face competition from Fenerbahce, whose coach, Ersun Yanal, admitted that they are monitoring Pastore:
“I asked to arrange an appointment in Paris to discuss the direction of PSG.
“Fenerbahce want to move forward with a real number 10.”
Arsenal? Liverpool? Which would be the better option for Javier Pastore?
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