The 20-year-old enjoyed a successful breakout campaign in Ligue 1 last season, with 11 goals in 26 games across all competitions earning him a loan move to the Parc des Princes.
According to L’Equipe via BBC, the French champions were willing to sign him outright for 36m euros (£30.6m) but an issue between Ekitike and Reims meant a permanent deal could not be done at this time.
Shortly after sealing his move to Paris, Ekitike told the official club website: “It’s a mixture of many feelings, many emotions. I obviously feel a lot of joy and pride to be signing with Paris. It’s a real proud moment to be here.
“My heart chose Paris. I am also French. It is the club from my country. And it’s a club where the greatest players play, where there is a quality and experienced staff, and the desire to win all the trophies in all the competitions.
“There is everything here for me to improve. All the ingredients are here, so it’s a logical choice for me to be here. Finally, I myself have family in the Paris region and I have always followed Paris Saint-Germain. All this makes it very natural for me to want to join this club. It’s the right choice for me to be here!’
He added: “I am a player who likes nice touches a lot. So my goal is to give pleasure to the people who come to watch the matches. That’s my way of seeing things.
“I like aesthetics in football, and I think that in Paris I am in the best place to play like that. And then there is also the statistical side which is very important in football today, and the desire to make the team shine.’
PSG were not the only club interested in signing Ekitike this summer. Premier League side Newcastle United have been interested in the Frenchman since January but were unsuccessful in their pursuit in the winter, leading them to sign Burnley striker Chris Wood.
The fee PSG will pay for the France U-20 international is less than what Newcastle offered in January.
But Reim’s president Jean-Pierre Caillot explained the club could not stand in the way of the Ekitike.
Speaking to l’Union via Dailymail, he said:
“We didn’t quite reach the sum offered by Newcastle, but Hugo Ekitike has always been respectful towards the club.
“We are happy to allow him to fulfil his dream.”
Ekitike is PSG’s third summer signing after midfielder Vitinha joined from Porto and left-back Nuno Mendes arrived from Sporting Lisbon, both for a reported £34m.