Reports suggest such a swoop is in the pipeline, with the mega rich Ligue 1 club weighing up a move for the Spaniard, who's contract—albeit with the possibility of a two-year extension—is set to run out in June 2014.
Of course Barcelona fans would think such a move is crazy, especially given that Xavi is quite possibly the player that makes Barca tick, and is without doubt the best passer in the game.
Also, why would La Blaugrana want to sell the man who's helped bring them so much success down the years?
Who'd be next? Lionel Messi? Andres Iniesta?
But the truth is, this transfer could be too good to refuse.
Looking at it from the surface, Qatari-owned PSG are willing to meet Barcelona's buyout clause for Xavi, £67 million (€80 million).
That value is clearly a number put in place to fend off interest suitors.
But the fact that PSG might meet, it leaves Barca in a strange, but actually very good place.
After all, that's the figure that'll be paid for a 32-year-old—which is unheard of in the history of world football.
It's a sum of money the Catalan club will rarely ever get for one of their players, let alone one nearing the end of his career.
In a time of UEFA's Financial Fair Play rules coming into effect, that kind of cash would put them in a very healthy position financially, and would allow them to really make the summer signings they want.
After all, the club's vice-president Josep Maria Bartomeu recently admitted the team cannot afford to sign the likes of Gareth Bale and Robin Van Persie. He said:
Those players are very good, but we always need common sense in any negotiations. We will not enter the madness market but it is impossible for Barcelona to pay 40 or 50 million Euros for any player.
With a chance to double their transfer kitty from the sale of Xavi, they would again have the financial power to match their brand power, and would be able to sign their top targets.
With Barca's stranglehold on La Liga diminishing as Real Madrid hold a ten point gap at the top, it's clear they need some new signings to bolster their squad once more.
Some depth at centre-back is certainly required, especially given Carles Puyol's recent problems, while a new left-back is also needed.
And the key for Barca is that Xavi's impact is not entirely irreplaceable.
What they will miss most if Xavi leaves is his ability to stretch the play, with the accuracy of his long balls allowing Barcelona to become a multi-dimensional attacking force with unpredictability.
However, the club can adapt without Xavi to a tighter version of tiki-taka, which they do anyway when he's not playing.
The side most recently won 3-1 away to Bayer Leverkusen without Xavi, and whilst they looked shaky at times, the team coped fine. It was mainly their lack of defensive options which would've cost the team.
His long-range game cannot be fully replaced, but over a short range Barca have a plethora of options to fill Xavi's role.
Thiago Alcantara would be the most likely, especially seen as at the moment he boasts an ever soslightly better passing accuracy rate, and has the most similar style to him.
Cesc Fabregas would be another candidate to fill Xavi's boots, and that's exactly what he did at Leverkusen.
The former Arsenal playmaker wasn't entirely convincing in that game, but once Pep Guardiola (or whoever's in charge next season) gives Fabregas a set position in the side, his form in that role will undoubtedly improve.
And in the longer term there's the likes of Jonathan Dos Santos and Sergi Roberto who have shown significant promise in stepping up to the plate.
Most importantly with the departure of Xavi would be the absence of a leader and strong personality in the dressing room.
But in a team full of experienced winners and vocal players, it's only natural (as in any group of people) a new leader would step forward.
So for FC Barcelona, receiving £67 million for a player with only two or three years left in him at the top, and a man who's departure—despite his deserved legendary status—won't dismantle the team, is simply too good to refuse.
For the player himself, he's achieved all he possibly can at FC Barcelona, with the glorious showering of winners medals he's earned inevitably coming to an end in the near future.
And as far as putting his name into the Camp Nou annals, he's already well and truly done that, with his status as a club legend completely secure.
Unfortunately though, no matter how much he tries, he won't be the greatest Barca player that ever lived.
That honour will undoubtedly go to Lionel Messi.
So it could be time to move on, try a new challenge and write history with another European giant, to completely glorify his name in the wider football spectrum.
A move to a burgeoning Paris Saint-Germain could see that happen, with the club set to become a powerhouse across Europe, and even the world, over the next few years.
He'd inevitably win new league and cup titles, and would have the chance for continental silverware with a new club, which would make his legendary status span across countries.
Plus, and perhaps most importantly, in the short career footballers have, Xavi has the opportunity for an unbelievable payday.
From a move to PSG, he'd immediately get at least £6.7 million (€8 million) from his share of the transfer fee, or possibly double that depending on how good his agent is.
While his wages would also increase significantly, as he'd easily earn 50 percent, or maybe even up to 100 percent, more than he currently earns.
At 32 years of age, Xavi has the chance to have something no other footballer at his age will probably ever get—that final big contract.
For most players it happens at 26, 27 or 28, and maybe even 29 for the best talents out there.
But for Spain's World Cup winner to get it five or six years later than average is an offer he simply can't refuse.
This transfer, despite the money quoted for a 32-year-old, would still be great for Paris Saint-Germain.
Of course they'd be getting a fantastic, universally respected talent who still has all of his ability.
That alone would make them a more feared side across France and Europe, and psychologically would give them a better chance to win games.
Plus, the signing of a major star like Xavi Hernandez would boost the morale of the players already at the club and would make them play better, and would also attract other big names to PSG.
While his leadership ability and experience would help the team close out games better, and help make the midfield more disciplined and organised.
Off the pitch it'd also boost the club's brand equity, and would gain them increased revenue from shirt sales, and possibly even better TV revenue from Spain with the potential for a bigger fan base in the country.
And purely for his ability on the pitch, Xavi is exactly what PSG and manager Carlo Ancelotti need.
The Ligue 1 club play quite a narrow style, which has dropped them silly points at times, and they have trouble spreading the play quickly, which is why players like Kevin Gameiro aren't finding the net as often as they should.
Thiago Motta was signed to help correct that, but Xavi is the master of spreading the play, and can do it better than anybody else in the sport.
To have him and Motta in the centre of midfield would give PSG a plethora of options in the final third, and ease the playmaking burden on the likes of Javier Pastore and Jeremy Menez, allowing them, along with Nene, to focus more on key passes and finishing chances.
In essence, with Xavi in the side, Les Rouge-et-Bleu would be far more likely to overcome their main problem this season—their lack of consistent goals.
So for Paris Saint-Germain, Xavi Hernandez and FC Barcelona, a £67 million transfer from the Camp Nou to the Parc des Princes, could be best for all parties concerned.