Hollande called the incident a terrorist attack.
Hollande has called an emergency meeting of his cabinet ministers for early afternoon in France.
David Cameron the Prime Minister of Britain said on Twitter than the Paris murders were sickening and that his country stands with the French in the fight against terrorism and in defending the freedom of the press.
Two men heavily armed with automatic weapons entered the offices of the newspaper and just opened fire.
In the attack, three of the injured were police.
The government of France raised the security alert for the country to its highest level following the attack.
A witness who worked opposite the magazine’s office, said two men who were hooded and in black entered the office with submachine guns.
Several shots were fired and the men then fled while firing in the street.
Witnesses spoke as well about there being a rocket launcher used.
It is not clear as of yet where the gunmen fled or if they had been captured by authorities. No one has yet to claim responsibility for the attack.
The magazine’s office has for a long time been under police surveillance due to a possible threat by Islamist extremists.
The office was burned only three years ago following a publication of cartoons involving the Prophet Mohammed.
In November of 2011, the offices were set afire on the day the magazine was scheduled to publish a cover that made fun of Islamic law.
Images taken by eyewitnesses during the attack Wednesday showed the gunmen leave one car before the attack and enter another to escape.
A huge manhunt is underway in the French capital.
Only hours prior to the attack on Wednesday, Charlie Hebdo published a cartoon on its Twitter page that appears to be Abu Bakr al-Baghdadi the leader of the Islamic State.
However, no evidence exists yet that suggests Wednesday’s attackers were motivated by that militant group.