The three new dossiers was provided by Nirupama Rao to Pakistan during the Foreign Secretary-level talks on Feb 25 in New Delhi.
It is believed that one of the dossiers contains fresh evidence against Saeed.
"Pakistan will not hand over Saeed to India," the sources was quoted by The News as saying.
"Saeed would also not be arrested and no case would be instituted against him since the dossiers have no actionable intelligence to implicate (him) in any charge of terror or other offence," the sources claimed.
The sources also described Saeed as a man who "is widely respected in the countries of the region."
Pakistan also plans to hand over more than three dossiers covering its grievances, the report said.
The dossiers will include evidence of India's alleged involvement in "terror activities" on Pakistani soil.