The Parisian club has now secured the prestigious cup on 14 different times.
The Parisian giants required a stoppage-time equaliser followed by a successful penalty shootout to overcome their arch-rivals in Kuwait and secure a fourth straight Trophee des Champions victory.
The European champions appeared to be sailing towards a straightforward win in the match featuring the French league champions and the Coupe de France winners after the French winger opened the scoring in the opening stages.
Yet, the southern French side fired twice late to seize a surprise advantage. First, Mason Greenwood converted from the spot-kick, before Willian Pacho unfortunately directed the ball into his own net for an own-goal.
In a breathtaking turn of fortune, the Portuguese striker grabbed a crucial leveler in the final seconds to force the contest into a deciding shootout. The Parisian shot-stopper Chevalier then emerged as the key figure, stopping crucial attempts from O'Riley and Traore.
In the shootout, Goncalo Ramos, Vitinha, the full-back, and Desire Doue all converted successfully for PSG to complete a convincing shootout win.
Now 14-time champions PSG, who faced last season's Ligue 1 second-placed team Marseille after completing a league and cup double, have now won this trophy for the twelfth time in the past thirteen seasons.
