Neymar was declared fit to play for the first time since injuring his ankle in May by PSG coach Thomas Tuchel on the eve of Toulouse's visit to the Parc des Princes.
But the club's Qatari owners and sporting director Leonardo have sidelined him as the uncertainty over his future continues to dominate their early season landscape.
In the squad list published ahead of the 1900 GMT kick-off Neymar was marked down as "absent".
The 27-year-old wants a return to Spain, to his former club Barca who sold him to the French champions for a world record 222 million euros ($264 million at the time) in 2017.
Or to Real Madrid, who reportedly had a 100 million euros bid plus players rejected this week.
Tuchel when quizzed about his wantaway forward on Saturday told reporters: "He can play (against Toulouse) if the situation between him and the club is clear.... Today it's not clear, perhaps tomorrow it will be".
Pressed, the German added Neymar was "ready to play" but the final decision rested with the club's sporting director.
"Perhaps you have to speak to Leonardo," he suggested. "Neymar's had a good week (training) with all the squad, a week with a lot of work and intensity."
The European transfer window closes on September 2. Whether Neymar figures in PSG's fourth league outing next Friday at Metz could be up to the negotiators.