Allen and his stars Owen Wilson, Rachel McAdams and Adrien Brody were among those who graced the red carpet.
Robert De Niro, Uma Thurman and Salma Hayek were also at the premiere.
Movies that will be shown at Cannes this year include Johnny Depp's return as Captain Jack Sparrow in Pirates of the Caribbean: On Stranger Tides, Jodie Foster and Mel Gibson's black comedy The Beaver, Melancholia starring Kirsten Dunst, and Terrence Malick's The Tree of Life.
The 2011 festival will run until May 22, with De Niro heading the jury of the main competition.
> Midnight in Paris review
> Sleeping Beauty review
> We Need to Talk About Kevin review
> Cannes Film Festival complete coverage
Watch the trailer for Midnight in Paris below:
Movie through our gallery from the opening night of Cannes below: