Yes, Paris is a megacity. The United Nations defines a megacity as an urban agglomeration with over 10 million inhabitants. The Paris metropolitan area (aire urbaine) had a population of ~12.5–13 million in recent estimates, comfortably exceeding the threshold.
Some sources mistakenly cite only the city-proper figure. By the standard international definition (metro area), Paris ranks among the world's megacities—typically top 20–25 globally.