Parrondo's paradox refers to the apparently paradoxical effect whereby two or more dynamics in which a given quantity decreases are combined in such a way that the same quantity increases in the resulting dynamics. We show that noise can induce Parrondo's paradox in one-dimensional discrete-time quantum walks with deterministic periodic as well as aperiodic sequences of two-state quantum coins where this paradox does not occur in the absence of noise. Moreover, we show how the noise-induced Parrondo's paradox affects the time evolution of quantum entanglement for such quantum walks.