"The head of state underlined the importance of a political, humanitarian and, if necessary, military response that respects international law," Xinhua quoted a statement from Hollande's office as saying.
"France intends to continue close consultations with all partners to ensure a coordinated response is and able to cope with a global threat that has become serious," Hollande stated.
According to the Elysee, Paris hoped to host an international meeting on the situation in Iraq and ways of combating the IS.
UN figures showed that more than 1,400 people were killed in August in Iraq after Islamic insurgents seized many towns in Iraq and forced thousands of civilians to displace.
In response, the United States launched air strikes against IS on Iraq's Kurdish capital, the first attack since Washington withdrew its troops from Iraq in 2011.
The US president first authorised limited air strikes on IS targets Aug 7, as the group seized more cities and towns in its advance on Erbil, capital of Iraq's autonomous Kurdish region, and trapped many civilians including the minority Yazidis on Mount Sinjar.