Dybala has enjoyed an impressive Serie A season, netting 13 times in 30 appearances to help Palermo to mid-table.
Those performances have reportedly attracted the attention of clubs around Europe including the likes of Juventus and Arsenal and Dybala's agent, Gustavo Mascardi, says Chelsea and PSG have formally registered their interest.
"Paris Saint-Germain have already come forward with an offer of about £32.4m and Chelsea had already reached £28.8m," he told Gazzetta dello Sport.
"We're now at the stage where the price cannot be lower than €50m (£36m).
"Paulo is in no hurry and will take his decision calmly."
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