The Slovenia international has started only seven Eredivisie games for Phillip Cocu's side this season after falling down the pecking order.
Matavz was linked with a move to Spanish side Malaga in August and also last month, but a switch to La Liga failed to come to fruition.
And with the transfer window in Russia still open, Rubin have now made a move for the 25-year-old former Groningen man, who is now due to discuss personal terms and undergo a medical.
PSV technical director Marcel Brands told the club's website: "Although Cocu would rather see the striker leave in summer, he feels confident that PSV have sufficient attackers, including Luciano Narsingh, Bryan Ruiz, Jurgen Locadia, Memphis Depay, Florian Jozefzoon and Zakaria Bakkali, to allow the deal to go through."
Matavz joined PSV on a five-year deal from Groningen in August 2011.
