A successful private venture design by Louis Coroller, the Potez XV two-seat observation biplane was displayed at the Paris Salon de I'Aeronautique in 1921. Powered by a 276kW Lorraine 12D engine, later replaced by a 224kW Renault 12Fe, the Potez XV prototype performed well and gained official approval in the H.2 (two-seat observation) category. Large orders were received from the Aeronautique Militaire and first deliveries began towards the end of 1923. Series aircraft had the Lorraine 12Db engine and retained the configuration of the original machine, with conventional cross-axle landing gear, and were largely of wooden construction with metal panelling covering the forward fuselage and fabric over the remainder.
The Potez XV was exported widely, eight going to Denmark, 12 to Spain, 120 to Romania and 30 of a slightly modified version, designated Potez XVII, to Bulgaria. In addition, a sample batch exported to Poland was followed by 135 aircraft licence-built in that country.