Cabaye departed Newcastle to join the Parisians at the start of 2014, but his first-team opportunities have been limited in his homeland due to the level of competition in PSG’s star-studded squad.
The club themselves are thought to be ready to offload the 28-year-old, with meeting FFP regulations a worry after their years of lavish spending under Qatari ownership.
Arsenal saw two offers for Cabaye rejected last summer, while Liverpool boss Brendan Rodgers is thought to be a fan of the classy passer.
And now United are also in the battle, with Louis van Gaal stepping up his January transfer plans.
The experienced playmaker is seen as a good option by the Dutchman, who is growing concerned at the lack of presence his top heavy XI have in the centre of midfield.
Cabaye himself could be open to a return to England, where he was successful with Newcastle after his 2011 move from Lille.