Ryanair will serve seven destinations from Toulouse, O'Leary said, two a week to Madrid, one a day to Brussels and London, four a week to berlin and two a week to Fes in Morocco, Malta and Warsaw.
The new flights should transport 600,000 passengers a year and create 450 jobs at the airport, according to Ryanair, which says it intends to expand the number of destinations served and develop tourism to Toulouse in the coming years.
Ryanair, which has been found guilty of dodging French labour law in the past, transported 8.1 million passengers in and out of France, lower only than Air France and EasyJet, O'Leary said, although he went on to complain about France's airport taxes and other state levies.
In 2015 Ryanair carried 105 million passengers, up from 90 million the previous year, and is aiming for 115 million in 2016, he added.
The falling price of oil is boosting all airlines' revenues, with "even Air France making a profit", O'Leary commented.
Air France-KLM's annual results are to be published on 18 February but its boss, Alaxandre de Juniac, said at the beginning of the year that it expects to be in the black after several years making a loss.