The city has applied unsuccessfully on three previous occasions - losing out to London in 2012 after failed attempts for the 2008 and 1992 Games.
"We believe that this bid and our goal to host the 2024 Games will excite, unite and enthuse the people of Paris," said bid chairman Bernard Lapasset.
The 2016 Games will be held in Rio, with Tokyo hosting the 2020 event.
Denis Masseglia, president of the French national Olympic committee said: "It will be an authentic reflection of the diverse and dynamic cultural, social, environmental and sporting traditions of our local communities, the city and the French people."
Paris has until September 15 to submit its candidacy to the International Olympic Committee, which will choose the host city in 2017.
