French newspaper Le 10 Sport claims Blanc remains keen on Mata, who has struggled to make an impression under Jose Mourinho at Stamford Bridge.
The reigning Chelsea player of the year has made just 11 Premier League appearances - including two from the bench - with Mourinho preferring to go with Eden Hazard, Oscar and a combination of Willian and Andre Schurrle.
The report claims the £40m-rated Spain international could leave Stamford Bridge in January. With a World Cup on the horizon, Mata wants first-team football to give himself the best chance of featuring for the defending world champions next summer.
And PSG want an attacking midfielder to add to their ranks - with Jeremy Menez out of contract at the Parc des Princes at the end of the season and Javier Pastore expected to leave.
That frees up Blanc to bring in another playmaker, with the out-of-favour Spaniard reportedly top of his shortlist.
The only downside for the reigning French champions is the fact that Mata would not be eligible for the remaining Champions League fixtures as he has already played in the competition for Chelsea.