That is the chronological order, but not the order they were originally released.
2. Lion, Witch, and the Wardrobe
4. Prince Caspian
5. The Voyage of the Dawn Treader
6. The Silver Chair
3. The Horse and his Boy
1. Magicians Nephew
7. The Last Battle
That is how they were released. The problem with putting them in chronological order is that the books written later assume you know things learned in books written earlier. Such as how Narnia and Aslan are introduced to you in The Lion, the Witch, and the Wardrobe, but the Magicians Nephew which happened first assumes you already know about them. I don’t think there is any right way to read them especially if you already know the back story.