The attacker has been on loan from Inter Milan this season.
Icardi, 27, has been a revelation in Ligue 1 with 20 goals in just 28 appearances.
And his better half has now set her heart on a switch to the French capital, it seems, after she held talks with the French club.
PSG will pay £45m with a further £6m in add-ons, say Sky Sports.
Icardi’s loan deal was due to end on May 31 so the French giants were desperate to wrap up the transfer quickly.
Although the league has been concluded, PSG are still in the Champions League and want the Argentine for this competition.
Other clubs, including Spurs and Manchester United, had been linked with the player.
Icardi was deemed surplus to requirements at the San Siro when former Chelsea boss Antonio Conte took over.
He was loaned out to PSG in September but has made a big impression as the side have reached the last eight of the Champions League.
Blonde bombshell Nara ditched Icardi’s fellow Argentina international Maxi Lopez n 2013 after a fling with the Inter Milan man.
She has been his agent for the last five years and negotiated two contract renewels at Inter before the switch to PSG
Source: thesun.co.uk