The man rushed at police just before midnight on Monday at Saint-Lazare, one of the capital’s busiest train stations, a police source who asked not to be named told AFP, confirming a report first broadcast on BFM TV.
The source added that the man drew a knife from a bag as he shouted “Allahu Akbar”.
“The two officers used their service weapons to defend themselves and neutralise him. The wounded individual was taken care of by the emergency services,” said a spokesman for France’s national rail operator SNCF.
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Paris prosecutors told AFP that the man’s life was in danger after being shot twice by the transport police.
An investigation has been opened into attempted murder of a public official, incitement to terrorism and violence with a weapon, said the prosecutors.
A source close to the investigation, who asked not to be named, said that the man was not known to the security services.
France remains on its highest alert following a spate of Islamist attacks from January 2015. The trial into the November 2015 attacks on Paris that left 130 dead is currently ongoing in the French capital with officials warning this means particular vigilance is required.