Thierry Fremaux, Cannes festival director, led attendees in a minute of silence to show solidarity with the victims, their families and the British people.
"We are a festival of peace," said Fremaux, who was joined by the president of the festival, actress Isabelle Huppert and festival employees.
In an earlier statement, festival organizers denounced the attacks as "yet another attack on culture, youth and joyfulness, on our freedom, generosity and tolerance, all things that the Festival and those who make it possible — the artists, professionals and spectators — hold dear."
Cannes organizers also canceled a planned fireworks display in honor of the festival's 70th anniversary, while Disney representatives canceled a promotional event for Cars 3.
The 70th Cannes Film Festival has been underway since May 17, and will continue until May 28.
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