The 25-year-old has not featured for the Magpies since picking up a hamstring injury on 16 December.
Ben Arfa, who completed a permanent move to Newcastle from Marseille in 2011, would love the chance to return to Ligue 1 and join cash-rich PSG once the season has finished.
“After I have saved my club, you never know. Signing for PSG would be a childhood dream,” he told Le Parisien.
“If there is a proposal, I will study it with interest. If there is a proposal. The “if” is important.
“PSG is a club that lives in my heart. To play would be a nice gift.”
Despite openly admitting his interest in a move to France’s capital, Ben Arfa is not entertaining the prospect of leaving Newcastle, who are just two points above the relegation zone, during the January transfer window.
“I am under contract with Newcastle and I’m fine,” he said. “First, I must save my club. I only think of that.
“I will help my team and my coach manager Alan Pardew], with whom I get along great.
“We really want to fight for him. The fans are great too.”
The France international also revealed that he should be available to return to first-team training next month.
“I should be able to resume in mid-February,” he added.
“I heal from Monday to Friday at the medical centre at Clairefontaine. Morale is good because I’m in Paris with family.
“But when I see the [Newcastle] games on television, it is not easy. The team needs all players and it is almost relegation.”
MORE: Man United latest news
MORE: Arsenal latest news
MORE: Chelsea latest news
MORE: Liverpool latest news