Faye, who was inaugurated on April 2, will take part in the Global Forum for Vaccine Sovereignty and Innovation, which aims to give Africa more sovereignty to address the many health crises it faces.
He will travel to the former colonial power on Wednesday, with the summit scheduled for Thursday.
"At the end of this event, the Head of State will be invited to lunch by his French counterpart," Emmanuel Macron, Faye's office, said.
Senegal and France have historically maintained strong political and economic relations. However, Faye has insisted such partnerships should be mutually beneficial.
In May, Senegal's Prime Minister, Ousmane Sonko, said the country's wish to determine its path was "incompatible with the entrenched presence of foreign military bases" on Senegalese soil.
Sources told AFP on Monday that the French government would be reducing the number of soldiers stationed in West and Central African nations, including Senegal.
Paris will reduce the number of soldiers posted to Senegal from 350 to around 100.