The 'Born This Way' hitmaker is spending some of her fortune on items belonging to Piaf, reported Sun online.
She's eyeing up clothes, shoes, perfume bottles, private letters and even inquired about purchasing the star's toenail clippings.
Gaga is huge fan of Edith, whose hits included classic track 'Non, Je Ne Regrette Rien', and wants to mark the 50th anniversary of her death next year.
Her representatives have also been in negotiations with that of the Piaf estate about buying rights to her first filmed performance and in talks with EMI to use nine of her songs.
They are likely to be sampled on a track to feature on Gaga's next album, while the 1941 film footage could be broadcast on stage during her next big tour.
"Gaga sees a lot of herself in Edith. She, too, was a rebellious character in her era. There's an awful lot of red tape to get through