The 22-year-old centre-back has already played more than 150 games for PSG but could find himself out of the first-team following the high-profile signing of Thiago Silva this summer.
Lyon are eyeing a move for the France international but, with coach Remi Garde under pressure to raise funds before he can add to his squad, a formal bid could be delayed.
Bernard Lacombe, advisor to club president Jean-Michel Aulas, has admitted that Lyon are interested in Sakho.
“The plan is to sell two players before we start recruiting,” Lacombe told L’Equipe.
“But it’s true, we at least need one central defender and maybe a defensive midfielder. That is why we are interested in Mamadou Sakho.”