Israel has faced broad international criticism over the law its parliament passed yesterday, including from Britain, France, the United Nations and neighbouring Jordan. The United States has not commented.
Abbas said the law was illegal and was "obviously against the wishes of the international community."
Speaking alongside Abbas at a press conference in Paris, French President Francois Hollande said: "I want to believe that Israel and its government will reconsider this law."
The legislation would legalise dozens of wildcat Jewish outposts and thousands of settler homes in the occupied West Bank and prompted a call by the Palestinians for the international community to punish Israel.
Israeli opposition leader Isaac Herzog warned the legislation could result in officials being hauled before the International Criminal Court.
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