The Ivory Coast international joined the French champions on loan for the season last summer, arriving from fellow Ligue 1 side Toulouse.
Prior to the move, the right-back had been linked with a switch to Arsenal but PSG pipped the Gunners to the 22-year-old.
And Laurent Blanc's side have now made Aurier's move a permanent one after paying Toulouse a reported transfer fee of £7.2m.
"PSG is happy to announce it has triggered the option to buy clause for Serge Aurier," said a club statement.
"The Ivory Coast international has signed a contract until June 2019."
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