Mbappe, out of contract in the summer, has communicated his decision to the French champions.
The terms of the forward’s exit are yet to be finalised as the two parties negotiate whether Mbappe will leave for a fee or sacrifice his own earnings to protect PSG financially.
It is understood PSG and Mbappe will make an announcement once this is agreed in the coming months.
Real Madrid hold a long-term interest in the 25-year-old forward, who would have to take a pay cut to join the Spanish side, even though they are prepared to make him their highest-paid player.
Mbappe’s departure will be the next step in PSG’s plan to move on from the individualistic Galacticos era, instead favouring a more youthful squad focused on the collective.
The departure of Mbappe, whose wages cost PSG €200m (£171m) per year, will free up funds for the club to replace their star player and it is understood there are already plans to make multiple signings this summer.
Warren Zaire-Emery, 17, and Bradley Barcola, 21, have kick-started PSG’s new project, with the French side boasting the youngest squad in the Champions League this season. Xavi Simons, 20, on loan at RB Leipzig, is another thought to be key to PSG’s future.
PSG are expected to offer renewals to Simons and Zaire-Emery, while Barcola signed from Lyon on a five-year deal in the summer.