The Health ministry announced the authorisation of the sale of Sativex on Thursday, describing it as a "necessary step towards the commercialisation of the product".
It is already available in the United Kingdom and Germany.
Sativex can be used to relieve severe spasms and will have to be prescribed by a neurologist and a hospital physiotherapist.
Health Minister Marisol Touraine issued a decree in June that allowed manufacturers of cannabis-based medicines to seek authorisation to sell their products in France.
A Cannabis-derived drug, dronabinnol, is already legally available in France for the relief of chronic pain in exceptional cases but only about 100 people use it.