JCDecaux previously held the contract, and the loss will come as a blow to the company as it continues to lose its grip on the capital. Earlier this year, its ten-year contract with Paris' public bicycle company, Vélib' also came to an end.
As part of the five-year contract, CCHO will operate 1,630 pieces of street furniture in Paris, which are available for advertising.
With the potential to reach 20 million French residents, the new panels will enable advertisers to reach 85% of Greater Paris' population, weekly.
The French architect Christian Biecher will design the new street furniture which will be delivered under the contract. Seeking inspiration from Paris, the designs will reflect the capital as both a modern and historic city and will be made of recycled materials.
The furniture will be installed in September, and for every piece created, CCHO has partnered with French company EcoTree to plant a new tree in a forest of the Paris region.
The deal is announced in the wake of CCHO's new chapter as an independent, standalone business.
Back in December, the company announced it had reached an agreement to fully separate from iHeartMedia after it filed for Chapter 11 bankruptcy protection in March.
After emerging as an independent company earlier this month Clear Channel International - its business division covering markets in Asia, Europe and Latin America - announced it had restructured to create a European unit.
The news came one week after William Eccleshare became worldwide chief executive.
The unit will sit alongside America, Latin America and China and will be led by its former-UK and Ireland chief Justin Cochrane, as the company looks ahead to its next chapter.
The move makes the likelihood of JCDecaux acquiring the outdoor advertising company under question, after years of rumours.
JCDecaux has been deliberating over buying out its rival for some time, to which Eccelshare said last week: "they should stop talking about it and do something. Put up or shut up."
On the Paris contract win, Eccleshare said: “We’re thrilled that the City of Paris has chosen to partner with Clear Channel to modernise and bring its street furniture to life across the city. As a global business, we collaborate with cities around the world to help deliver advertising-funded solutions to make them more sustainable and efficient and offer cities a new way to communicate with their citizens.
“France is a key market for Clear Channel Outdoor, and I would like to thank the French team for their hard work and dedication as we build on last year’s positive momentum. Today’s news is further evidence of the robust health of our business as we begin a new chapter as a fully independent, pure play, out of home advertising company, and we look forward to seeing further growth across our markets as we continue to lead the digital transformation of the sector.”