Bernard Cazeneuve said there were no links "at this stage" between the plot and the attacks against Brussels this week or Paris in November.
Cazeneuve said bomb squads were on site. The raid took place in Argenteuil, on the northern outskirts of the French capital. He noted that the person arrested was implicated at a "high level" in the plot, but offered no details.
Witnesses told The Associated Press that the immediate area had been locked down, and residents were unable to return home for hours after the raid began.
A 23-year-old resident of the neighborhood described seeing heavily masked and armed officers surround the entrance to an apartment building before entering and emerging with the suspect, his head covered in a scarf.
"Police told us to get out of the way, it's dangerous," the resident said, speaking on condition of anonymity because of the tense situation in the neighborhood.
"We are all shocked," he said. "We're asking us how this could have happened.