French police have stormed the two hostage sites at a warehouse in Dammartin-en-Goele and a supermarket in eastern Paris.
Cherif and Said Kouachi, the main suspects in the Charlie Hebdo massacre, were killed in the police raid on the warehouse in Dammartin-en-Goele.
Explosions and gunshots could be heard as the French police breached the printworks and freed the hostage.
One police officer is reported to have been injured at the scene.
In a coordinated action, police moved in to release hostages at the Jewish Hypercasher supermarket where another gunman had taken several hostages at Porte de Vincennes in eastern Paris.
Explosions and gunshots could be heard at the supermarket, and live images showed a number of hostages being led from the supermarket.
Unconfirmed reports say that four hostages were killed during the supermarket incident, and two police officers were injured in the assault.
Le Monde reports that hostage taker Amedy Coulibaly was killed in the raid.
— AFP Photo Department (@AFPphoto) January 9, 2015
French president François Hollande is due to address the nation at 20:00 local time (19:00 GMT).