The French giants have called a press conference for this evening, when the playmaker is expected to be confirmed as a PSG player.
PSG had a £14million bid rejected for the 28-year-old on Sunday but then returned with a significantly improved offer in a bid to get their man, which appears to have been successful.
Cabaye has undergone a medical and is widely tipped to be at the centre of the press conference, which takes place at 1830 local time.