After near-misses in 2021 and 2022, Leclerc kept McLaren's Oscar Piastri at bay to take his first victory on home soil and reduce the championship gap to Verstappen.
Leclerc's Ferrari team-mate Carlos Sainz finished third, one place ahead of British driver Lando Norris.
George Russell crossed the line in fifth for Mercedes with Verstappen sixth and Lewis Hamilton seventh. The top 10 finished in the same order they started.
The race had started in explosive fashion when Sergio Perez was fortunate to walk away from a staggering 160mph crash on the opening lap.
Perez, 16th on the grid, hit the barrier as the field made their way up the hill from Sainte Devote.
The Mexican was sent into the wall after Kevin Magnussen's front-left wheel made contract with the rear-right of Perez's Red Bull.
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