The Brazilian won LaLiga twice, struck the final goal in Barca’s 2015 Champions League final triumph and has scored 52 goals for Brazil.
However, Hoeness is unsure whether the 25-year-old – who could make his PSG debut against Guingamp on Sunday – was worth such a significant outlay.
“€222million? I don’t consider Neymar that good,” Hoeness said on Sky.
Hoeness was also critical of Neymar’s Brazil team-mate Douglas Costa.
Costa swapped Bayern for Juventus in a loan move that could become permanent if an option in his contract is triggered, with Hoeness stating he had not earned the new deal he wanted at the Allianz Arena.
“Costa wanted more money after only a little time, despite not performing well at all,” he said.