In this FAQ you will learn how to permanently close your PayPal account. This action can be conducted from the official website, but keep in mind that once an account is closed, it can be re-opened. The step are as follows:
Before deleting your account:
Make sure you don't have any ongoing transactions, as they will be canceled when you close your account.
If you still have money in your account, transfer it back to your bank account (can take up to 4 days).
Finally, make sure to remove all information related to your eBay account.