We show that the chiral-symmetry-broken phase of massless QED in the presence of a magnetic field exhibits strong paraelectricity. A large anisotropic electric susceptibility develops in the infrared region, where most of the fermions are confined to their lowest Landau level, and dynamical mass and anomalous magnetic moment are generated via the magnetic catalysis mechanism. The nonperturbative nature of this effect is reflected in the dependence of the electric susceptibility on the fine-structure constant. The strong paraelectricity is linked to the electric dipole moments of the particle-antiparticle pairs that form the chiral condensate. The significant electric susceptibility can be used as a probe to detect the realization of the magnetic catalysis of chiral symmetry breaking in physical systems.