The Parc des Princes pair are both believed to be unsettled, which has alerted Arsene Wenger.
Cavani only switched to the Ligue 1 champions over the summer in a big money deal, but has struggled to adapt to life at his new club.
The Uruguayan was the focal point of the attack with former side Napoli, but has been forced to play alongside Zlatan Ibrahimovic this term – who is PSG’s top name.
This has caused the 26-year-old to consider his options, with speculation suggesting he has already asked his representatives to prepare a move at the end of the season.
Rabiot is also on Wenger’s wish list.
The 18-year-old midfielder is thought of as one of French football’s top emerging talents, but faces a genuine battle for first-team action with PSG.
Rabiot has already confessed that he may be force to leave the club if more competitors are signed over the coming transfer windows, which is a genuine possibility given the Parisians’ significant Qatari backing.
Wenger is keen to offer the teenager a platform to play regularly, but may face competition from Chelsea boss Jose Mourinho, who is also watching the playmaker.