Tourists visiting the nearby Louvre museum were locked into rooms for the safety.
Conor Bakhuizen, 18, is in Paris on a school trip.
“The program is unchanged”, a spokesperson for Paris 2024 said.
He is understood to have been slightly injured in the attack.
Friday’s incident came on the very day that Paris was submitting its formal bid dossier to host the 2014 Summer Olympics. She said that “there is not a single one escaping that menace”.
Paris is competing with Los Angeles and Budapest to host the 2024 Olympics.
Since 2015, over 130 French citizens have been killed in or around the city from various terrorist attacks.
“He was carrying a suitcase and was refused access”, said a police source at the scene, according to the Mirror. Officials found two machetes. The 53-year-old said he hid for about 15 minutes before gingerly making his way upstairs.
An additional person has been detained, but his role and involvement with the attack is not immediately clear, Interior Ministry spokesman Pierre-Henry Brandet said.
Soldiers in uniform carrying automatic rifles are regularly seen walking in the area around the Louvre. The attacker was shot five times. One of the things to say about the incident this morning was that it was over before it started. The suspect has been taken away by medics but the area still remains under lockdown.
Paris’s police chief says the man was waving the machete while shouting “Allahu akbar” before wounding the soldier.
The soldier is reported to have been attacked with a knife and his assailant seriously injured. Prime Minister Bernard Cazeneuve has described the attack as “terrorist in nature” and the French foreign minister has said the man involved was armed with several knives.
The area around the museum has been evacuated and the 250 people inside the Louvre were kept in secured areas inside the museum. A second soldier responded by opening fire on the attacker and stopping him in his tracks.
The world-famous art gallery is home to the Mona Lisa and a popular stop-off for tourists visiting the French capital.