The Parisian club has now secured the prestigious cup on 14 separate times.
The Parisian giants needed a dramatic equaliser followed by a successful penalty shootout to overcome Marseille in Kuwait and secure a fourth straight Trophee des Champions title.
The European champions appeared to be coasting towards a comfortable triumph in the match featuring the French league champions and the French Cup winners after the French winger opened the scoring in the opening stages.
However, the southern French side fired twice late to seize a surprise advantage. Initially, the English forward scored from the spot-kick, before Willian Pacho unfortunately turned the ball into his own net for an own goal.
In a breathtaking twist of fortune, Goncalo Ramos grabbed a crucial equaliser in the dying seconds to force the contest into a penalty shootout. The Parisian shot-stopper Chevalier then emerged as the hero, saving crucial attempts from O'Riley and Traore.
In the shootout, Ramos, the midfielder, Nuno Mendes, and the young talent all converted successfully for PSG to seal a convincing penalty victory.
Now 14-time champions Paris Saint-Germain, who met 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 last 13 years.