The 30-year-old Russian model and 41-year-old American actor enjoyed a romantic stroll in the City of Light just days after Cooper made headlines for having breakfast with Naomi Campbell.
Shayk and Cooper hadn't been seen together in weeks when the actor and Campbell were photographed leaving a West Hollywood restaurant Saturday.
Sources later told news outlets Cooper and the 45-year-old British model are just friends.
"Bradley and Irina are both friends with Naomi," an insider told Page Six.
Sources told TMZ Campbell was in Los Angeles for Oscar parties and "grabbed a quick bite" with Cooper to catch up.
Shayk was unable to attend any Oscar parties because she was busy with Milan Fashion Week.
The model, who became a L'Oreal Paris international spokeswoman in October, is now in Paris for Paris Fashion Week.
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Shayk and Cooper were first linked in April following their respective splits from Cristiano Ronaldo and Suki Waterhouse in January 2015.
Sources said the couple "couldn't be in a happier place" when they were spotted kissing in Capri in August.
"They have gotten to know all of the little things about each other during this trip to Italy," an insider told E! News at the time. "Their attraction for each other just keeps getting stronger and they always want to be in each other's corner."
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