Zamparini has revealed that a 43million euros (?37.5m) deal was struck late on Friday for the 22-year-old midfielder to join the Parc des Princes club.
Chelsea were thought to be chasing the talented youngster's signature but it appears they have been beaten to the punch by the Ligue 1 outfit.
The swoop is yet to be officially confirmed by the two sides, while Palermo sources had earlier said that the Argentina international's agent was still negotiating with the Blues over a move.
But Zamparini told Radio Radio on Saturday:"[We] closed the deal last night (Friday) around midnight.
"Basically it's the official transfer of Pastore to Paris St Germain based on a 43m euros fee."
Pastore has been regarded as one of European football's hottest properties since netting 11 goals from midfield in 35 Serie A matches last season.
It is thought the youngster will put pen to paper on a five-year deal at the Ligue 1 side.
Source: Team Talk
Source: Team Talk