The England international fell out-of-favour under manager Ruben Amorim earlier this season and he was loaned out to Aston Villa in February.
Rashford has impressed in his short stint with three goals and four assists, but it is unclear whether Villa can afford to purchase him later this year.
Villa are close to breaching PSR spending limits. They have an option to buy Rashford for £40m, but that may not be triggered in the summer.
Amidst this, PSG are closely monitoring his situation. The club's advisor Luis Campos has been a keen admirer of Rashford over recent years.
Les Parisiens could make a formal approach for the United graduate if Villa don't take up the clause to purchase him at the end of the campaign.
Rashford is currently focused on his job at Villa and won't be assessing his future until the summer. Villa are expected to make a decision soon.