The conference aims to provide financial support for the Palestinian economy within a sustainable development perspective and increase the administrative capabilities of the Palestinian territories.
The participants are expected to announce their financial contributions to the Palestinian Reform and Development Program, drafted by the Palestinian Authority for 2008-2010.
The PA is hoping to raise $5.6 billion over the next three years.
The ministry said the conference would be attended by delegations from 70 countries and 20 international organizations, in particular the UN, the Arab League, the IMF and the World Bank.
The Middle East quartet of mediators could hold its next meeting on the sidelines of the conference, Russia's foreign minister said earlier on Friday.
"We hope to supplement the upcoming Paris forum with meetings of the Middle East quartet and the contact group of the Arab League," Sergei Lavrov said.
Earlier this week the Russian Foreign Ministry said representatives of the quartet - the U.S., European Union, United Nations and Russia - could meet on the sidelines of the Paris forum with members of the Arab League to discuss the Arab Peace Initiative.
The initiative offers Israel peace agreements and normalization in relations with Arab countries in exchange for the withdrawal of Israeli forces from all the occupied territories, including the Golan Heights.
The initiative also envisages the recognition of "an independent Palestinian state with East Jerusalem as its capital" in the West Bank and Gaza Strip, as well as a "just solution" for the Palestinian refugees.
Israel's Haaretz newspaper reported on Tuesday that quartet ministers could also discuss Russia's proposal to host in April 2008 another Middle East peace meeting at the ministerial level as a follow up to the U.S.-sponsored Mideast peace forum held last month in Annapolis, Maryland.
At the Annapolis conference, Israeli Prime Minister Ehud Olmert and Palestinian President Mahmoud Abbas agreed to resume negotiations towards creating a Palestinian state that have been stalled for seven years.
