The Red Devils have reportedly been keeping tabs on the Portuguese youngster for months, with his agent Jorge Mendes said to have met Benfica president Luis Filipe Vieira to negotiate a potential move.
"All good players are of interest to PSG and Guedes is one," Emery said. "We are working on him and one we have the opportunity to sign.
"He is a good player, capable of playing wide or in the middle. He is a player of the future who is going to grow a lot."
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According to The Mirror, Chelsea are set to battle United for the signature of Benfica defender Victor Lindelof.
United have been interested in the 22-year-old centre-half since the start of the season and are said to be lining up a £38m bid for the summer.
But the Blues will reportedly challenge United for the Sweden international, with a top class centre-back at the top of Antonio Conte's wish list.
Chelsea are also said to be keeping tabs on Lindelof's Benfica team-mate Nelson Semedo.