This online news platform gathered the football superstar was also given the option to extend until June 2024
His salary is placed around €35m net per season with other add-ons.
Messi is expected to be in Paris in the next few hours for medicals.
Newsonline reports that the two-year deal is worth £25m a year plus bonuses and a £25m signing on fee.
Messi’s time at Barcelona came to an unexpected end after the club fell foul of Spanish LaLiga’s financial fair-play rules despite agreeing to a 50% pay cut and reaching an agreement to sign a new deal.
Messi’s arrival at Parc Des Princes will reunite him with Neymar and will form a trident attack line with Mbappe any opposition would be weary of.
The Argentine captain will also reunite with long term for, Sergio Ramos, who recently joined the Paris club after leaving Real Madrid.