The 18-year-old is the third and final Chelsea player to be sent out on loan to sister club Strasbourg for the upcoming 2025-26 season.
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Due to rules regarding the number of players one clubs can send to another on a temporary basis, Chelsea are unable to send any more players to Strasbourg this season.
Goalkeeper Mike Penders and centre-back Mamadou Sarr, who was signed by Chelsea this summer, are the other two.
Paez officially became a Chelsea player earlier in the summer, following his 18th birthday, after the club agreed a deal to sign him from Ecuadorian club Independiente del Valle in June 2023.