The rampage began at around 11:00 pm (2300 GMT) in an area known for its high levels of street crime and homelessness to the north of the Gare du Nord train station in the 18th district.
The injured were admitted to hospital but none suffered life-threatening wounds, the police source told on condition of anonymity, confirming a report in the Parisien newspaper.
The attacker was arrested two hours later in the neighbouring 10th district and was "very drunk", according to the police source who said the knife was found nearby.
Paris is still on its highest level of alert after a string of Islamist attacks over the last two years, but there appeared to be no terrorism link to the violence on Tuesday night.
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