The club completed the signing of Xavi Simons last week to finally end their pursuit for a No10 and there is still a desire to add another attacking option to the squad.
PSG have been open to letting Kolo Muani leave all summer, and Spurs have swooped in after talks with Juventus collapsed over the weekend.
Standard Sport understands Kolo Muani will join on loan, with Spurs holding no option or obligation to make the move permanent. The player is currently travelling to undergo a medical.
Thomas Frank only wants signings that will raise the quality of the squad and that has made a centre-back addition difficult, with it tough to find a player close to the level of Micky van de Ven and Cristian Romero who is also happy to be a back-up.
Spurs' move for Kolo Muani comes despite the club remaining hopeful that Dominic Solanke is not set for an extended spell on the sidelines.
The forward missed the defeat to Bournemouth on Saturday with an ankle issue that has been bothering him since the early stages of pre-season.
Solanke has had an injection on his ankle and will continue to be assessed over the international break, but Kolo Muani's arrival provides cover should that issue prove to be more serious.
Ademola Lookman could be on the move on deadline day, though it is unlikely that Spurs pursue a deal.
The club have been interested in Lookman this summer, and it is believed he wants to leave Atalanta. Bayern Munich have had a loan offer for the winger rejected.
It is looking increasingly likely that Manor Solomon will still be a Spurs player beyond the close of the window this evening.
Spurs have been open to offers for the 26-year-old this summer, whether that be a permanent sale or a loan, but nothing has materialised.
Solomon instead returned to the Spurs squad for the first time in two years on Saturday and could now be a part of Frank's plans going forward.
Spurs are still trying to move on Bryan Gil before the end of the window. However, while Girona want his contract to be terminated so they can sign the winger, Spurs have no plans to do so and will not allow the Spaniard to leave as a free agent.