He informed his players of his decision this morning and announced the news at a press conference. "Thanks to the president Nasser Al-Khelaifi, the sporting director Antero Henrique, the supporters and all the players for these two seasons".
Apart from Conte, former Borussia Dortmund manager Thomas Tuchel is also being tipped as a potential candidate to take over the managerial helm at Parc des Princes.
He said he had told the players before training on Friday.
It has not been a quiet year at PSG where every day, rumours, reports and leaks are coming out of the club.
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Emery, who won the Europa League three years running with Sevilla, has previously been linked with a move to Real Sociedad.
PSG will have the chance to win the Coupe de France for the second consecutive year when they face third-division side Les Herbiers in the final on May 8. "Neymar wants to evolve and grow with the club".
Wenger, 68, is leaving Arsenal at the end of the season after 22 years in charge of the club but would like to continue working at the highest level. "I will see what is best for my future".
Emery, he said, was "a model of commitment and ambition".