The 34-year-old spent last season at Trabzonspor, but left the Turkish club over the summer following a disagreement with manager Vahid Halilhodzic.
He has penned a one-year contract with Metz, which includes the option of a second year.
"Metz is a historic club with a prestigious past," FIFA.com quotes Malouda as saying. "I felt a real ambition at the club, there's a real coherence in their project."
Malouda has won 80 caps for France and has played for his country at two World Cups.