French newspaper Le 10 Sports claims Chelsea and Arsenal are contenders for his signature should he fail to put pen to paper.
The 18-year-old has featured in the PSG first-team this season, but the report claims he is yet to decide whether his career is best furthered elsewhere.
The defending French champions have strength in depth in midfield and almost unlimited financial resources, so Rabiot may feel Chelsea or Arsenal offer him a greater opportunity for regular minutes.
PSG have extended a contract proposal to Rabiot, but the teenager is yet to sign it amid interest from elsewhere.
The report claims he will make a decision on his future at the end of the season, as he remains focussed on his development in Paris for the time being.
The former-Manchester City academy star made his first-team bow for PSG in 2012, but has broken into the team on a regular basis this season and has made 15 Ligue 1 appearances so far.
Chelsea and Arsenal are thought to be tracking his progress, with a view to potentially bringing him back to England this summer.