Pavlovic admitted to being 'flattered' by Celtic's alleged interest.
The Serbian newspaper claims Monaco will pay €10 million (around £8.6m) for Pavlovic, and a potential €3m more (around £2.6m) in bonuses.
But it stresses that an agreement for the 18-year-old - who admitted to being 'flattered' by Celtic's alleged interest - has 'not yet been made into paper paraphernalia', and urges Monaco to 'hurry'.
The Ligue 1 side are said to have agreed to loan Pavlovic back to his current club, Partizan Belgrade, until June 2020.
Celtic have added Hatem Abd Elhamed in Pavlovic's position since reports emerged crediting them with an interest in the Serbia Under-21 international.
And with Krifstoffer Ajer, Christopher Jullien, Jozo Simunovic and Jack Hendry as competition, the need for another centre-back is not now as pressing.
Partizan are reported to have wanted at least €6m (around £5.5m) to part with Pavlovic in the previous transfer window.
Celtic fans - how bothered are you about Pavlovic potentially joining Monaco?
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