"France has the qualities to win" the Olympic race, said Bernard Lapasset who headed an official committee that presented a report on the possible campaign to Hidalgo and the French government on Thursday.
After handing over his report Lapasset said that France needed to "move as quickly as possible" onto negotiations with the International Olympic Committee (IOC) about a bid.
But Hidalgo said she would submit a possible bid for approval by the mayors of the 20 Paris arrondissements in March and to the full city council in April. The socialist mayor is worried about opposition from rival parties over the cost of holding the Games.
Lapasset said the Games could be organised for under €4.5 billion ($5 billion).
(The French public favour a Paris bid for the Olympics in 2024. Photo: AFP)
Paris will have to beat a strong field of contenders if it enters.
Rome has already announced that it will lead an Italian bid. The US city of Boston is also a candidate while Germany are deciding between Berlin and Hamburg.
Durban in South Africa could press to become the first African host of the Games.
Istanbul -- who were runners-up to Tokyo for the 2020 Games -- is also considering a new bid. Doha and Baku, the Azerbaijan capital, have also been mentioned as possible candidates.
In a poll this week, a total of 73 percent of French people said they would like to see the Games return to Paris for the third time after 1900 and 1924.
Paris suffered a traumatic loss, despite being the hot favourites, to London to host the 2012 edition.