Italian media had suggested a €21m bid from the French club was imminent.
Lazio president Claudio Lotito has dismissed speculation that midfielder Hernanes could be on his way to PSG this summer.
The 28-year-old has played an integral role in the development of the club in the past two years, helping them to a Coppa Italia success over rivals Roma last season.
He also featured in the Confederations Cup last month, as he establishes himself as part of Luis Felipe Scolari’s squad ahead of the World Cup next summer.
However, earlier on Friday, La Gazzetta dello Sport reported that French champions PSG were ready to make a €21m bid to attempt to prise the Brazilian away from the Italian capital.
With speculation suggesting they are nearing a deal for Napoli striker Edinson Cavani, it would appear that director Leonardo is readying another assault on Serie A after signing multiple players from Italy last summer.
Nevertheless, Lotito has ruled out the possibility of Hernanes leaving the club this summer, claiming that the stories have no basis.
“A deal to sell Hernanes to PSG? That is completely false,” he told La Repubblica on Friday afternoon, as quoted by football-italia.net.
Newly appointed PSG boss Laurent Blanc has talked up the club’s chances of signing Cavani, and it is understood that they are ready to meet his €63m release clause fee.
However, signing Hernanes may prove a little less straight forward, with Gazzetta previously reporting that it would take a bid of up to €30m to tempt Lotito into considering a sale.