The Brazil international wants a return to Stamford Bridge, but the money on offer from the Blues is below the French champions' valuation
The Blues' bid of £32m fell short of the French champions' valuation of him and PSG won't sanction the sale until they find a replacement.
However, Les Parisiens have been looking into options from their shortlist since Tuesday night, but are yet to put in any formal offers on replacements with the transfer window due to close at 23:00 BST on Wednesday.
Brazil international Luiz left Chelsea just two years ago in a £50m transfer, but he is open to a move back to the club with whom he won the Champions League.
Chelsea have been in talks with Kia Joorabchian and Giuliano Bertolucci, who brought Luiz, Kenedy and Oscar to the club, after failing to secure the signing of Kalidou Koulibaly from Napoli and Alessio Romagnoli from AC Milan.
The deal won't have any effect on the imminent move signing of Marcos Alonso from Fiorentina to Chelsea.