Winger Timoci Nagusa and prop BJ Botha have also returned from their respective injuries, with Nagusa starting on the right wing and Botha replacing Declan Fitzpatrick in the province's front row.
Andrew Trimble moves off the wing and will partner Wallace in the centre as the benched Darren Cave and Ian Whitten make way.
The fourth and final change sees Willie Faloon get the nod over former Ireland Under-20 captain David Pollock at openside flanker.
Commenting on his side's Belgian trip, Ulster coach Brian McLaughlin said: "We've got to match whatever Stade throw at us. If we don't do that, if we don't compete, we know they will try and intimidate us off the park, but we wouldn't let that happen. To us it's just another away match.
"We know what to expect and hopefully we'll take every opportunity we are given.
"We have trained well this week and are happy with where we are. We are ready to walk onto the field in Brussels. The team we've named is one that's covering every eventuality.
"We are happy to be going there and having the opportunity to still be in a position to qualify from our pool."
ULSTER (v Stade Francais): Clinton Schifcofske; Timoci Nagusa, Andrew Trimble, Paddy Wallace (capt), Simon Danielli; Ian Humphreys, Isaac Boss; Tom Court, Nigel Brady, BJ Botha, Ed O'Donoghue, Dan Tuohy, Stephen Ferris, Willie Faloon, Chris Henry.
Replacements: Andy Kyriacou, Bryan Young, Declan Fitzpatrick, Ryan Caldwell, David Pollock, Cillian Willis, Ian Whitten, Darren Cave.