The Brazilian has struggled to live up to his enormous price tag in a disappointing season for the Catalan club, who will try to cash in on their £142m signing to fund a big summer overhaul.
Chelsea have been heavily linked with a move as they prepare for life after Eden Hazard, while United have also been mooted as a potential destination.
However, according to Spanish newspaper Sport, Coutinho is not especially keen on joining either club and his favoured destination is PSG, where he would link up with good friend Neymar.
Were he to join Chelsea, he would need to take a significant wage cut, while the Blues may not even be able to sign him amid a looming transfer ban.
Coutinho wants to sort out his future quickly and is not prepared to wait around to see if Chelsea are successful in their appeal against the transfer ban.
While United could match his salary demands, Coutinho – who was booed on his visit to Old Trafford in the Champions League – has made it clear that he has little desire to further sour his relationship with Liverpool fans.
The Brazilian lost a lot of support for the manner in which he forced through a move to Barcelona and Coutinho does not want to ruin the little good will he still has left on Merseyside by joining United.
As such, Coutinho has discarded both Chelsea and United as options for now and sees PSG as his best choice despite previously rejecting a move to the French champions.