A fire overnight destroyed the Marché des Enfants Rouges, the oldest covered market in Paris, firefighters and Ariel Weil, mayor of the city's central district, said.
The blaze started at about 3am, according to firefighters. The market is in the 3rd arrondissement, in the city centre, and is on France's list of historic monuments.
Firefighters cordoned off the area. Weil said the fire was under control and the market was completely destroyed. He urged people to avoid the area and thanked firefighters for their efficient work.
The market is partly covered. Inside were stalls run by producers and food outlets, and it was very popular with locals and tourists.
The name comes from a 16th-century orphanage founded nearby by Marguerite of Navarre. The children there wore red clothes donated by Christian benefactors, and red then stood for charity.
At the end of the 20th century the market was closed and slated for demolition, but local residents fought to save it. After a full renovation, it reopened in 2000.