Napoli's Cavani, top scorer in Serie A last season, has been linked to a host of top European clubs with local media reporting that Qatari-backed PSG have made an offer of up to 63 million euros for the 26-year-old.
"I love this player," Blanc told a news conference on Wednesday. "I have seen him play several times with Uruguay and Napoli. I would be very happy should he be in the PSG squad next season."
Former France coach Blanc, who joined PSG last week to replace Carlo Ancelotti, wants to strengthen the team having been asked to do better than last season in Europe.
Under Ancelotti, who left to take charge of Real Madrid, PSG won their first domestic title since 1994 and reached the Champions League quarter-finals where they went out on away goals to Barcelona after two draws.
Blanc said he wanted to bring in a left-back, with former Barca defender Eric Abidal and Lille's French prospect Lucas Digne topping the wish list.
"It's hard not to like Eric Abidal. But we have to talk about it with the president and [sporting director] Leonardo. I am, we are, interested in both players," he said.
"The midfield will also be strengthened because there will definitely be some departures," added Blanc.
The new coach, who met some of the players for the first time on Monday, also denied media reports that Brazil centre-back Thiago Silva was willing to leave the club.
"I talked to him on the phone yesterday and I can tell you that he will a PSG player next season," Blanc said.
"We are preparing a specific training programme for him. I had the feeling that he was very focused on next season."
