The KFA said they reached an agreement with the Ligue 1 side late on Thursday and that Lee would be released after PSG's Champions League opener at home to Borussia Dortmund on Tuesday.
Teams are under no obligation to release players for the Asian Games as the tournament falls outside FIFA's official window.
The Games, which were postponed from 2022 due to the COVID-19 pandemic, run from September 23 to October 8 in Hangzhou, China.
The men's football tournament begins on September 19, with South Korea kicking off their campaign against Kuwait as they bid for a third straight gold medal. They will also face Thailand on September 21 and Bahrain three days later in Group E.
Lee joined PSG from Real Mallorca in July and started their opening two league games but has been sidelined with a muscle injury since Aug. 22.
He is expected to be available for the Koreans' third group match.
