PSG has now won the prestigious trophy on 14 separate times.
Paris Saint-Germain needed a dramatic leveler followed by a successful spot-kick decider to overcome Marseille in Kuwait and secure a record-extending fourth consecutive Trophee des Champions victory.
The European champions appeared to be coasting towards a comfortable win in the match featuring the Ligue 1 winners and the French Cup winners after Ousmane Dembele opened the scoring early on.
Yet, the southern French side struck two times in the closing moments to take a shock lead. Initially, the English forward converted from the spot-kick, before the defender unfortunately turned the ball into his own net for an own-goal.
In a remarkable turn of fortune, Goncalo Ramos grabbed a vital equaliser in the dying seconds to send the contest into a penalty shootout. PSG goalkeeper Chevalier then emerged as the key figure, stopping crucial kicks from O'Riley and Traore.
From the spot, Ramos, Vitinha, Nuno Mendes, and Desire Doue all converted successfully for Paris Saint-Germain to seal a convincing penalty win.
The record winners Paris Saint-Germain, who faced last season's Ligue 1 second-placed team Olympique de Marseille after achieving a league and cup double, have now won this competition for the 12th time in the past thirteen years.