The French president announced the major change of policy in a letter to the president of the Palestinian Authority, Mahmoud Abbas, which Mr Macron also published online on Thursday evening.
The French leader said he will make the formal announcement at the UN General Assembly, being held in September.
France will become the first G7 member to recognise a Palestinian state.
The move heaps pressure on France’s allies such as the UK, and Sir Keir Starmer insisted tonight that he is “clear that statehood is the inalienable right of the Palestinian people”.
But the prime minister has resisted calls from within his own party to recognise Palestine immediately, as he views this as part of the peace process in Gaza.
Just hours before Mr Macron’s announcement, Sir Keir said he would be holding an “emergency call” with the leaders of France, Italy and Germany over what he termed the “humanitarian catastrophe” happening in Gaza.
Sir Keir said that “the suffering and starvation unfolding in Gaza is unspeakable and indefensible”.
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