The Parisian club has now secured the prestigious cup on 14 separate times.
The Parisian giants required a stoppage-time equaliser followed by a successful penalty shootout to get past their arch-rivals in Kuwait and capture a record-extending fourth consecutive Trophee des Champions victory.
The European champions appeared to be sailing towards a comfortable win in the showdown between the French league champions and the French Cup holders after the French winger found the scoring early on.
However, the southern French side fired two times in the closing moments to take a surprise advantage. First, the English forward converted from the penalty spot, before Willian Pacho inadvertently turned the ball into his own net for an own-goal.
In a breathtaking turn of events, the Portuguese striker snatched a vital leveler in the dying seconds to send the match into a penalty shootout. The Parisian shot-stopper Chevalier then stood as the key figure, saving crucial kicks from O'Riley and Traore.
From the spot, Goncalo Ramos, Vitinha, the full-back, and Desire Doue all scored successfully for Paris Saint-Germain to seal a 4-1 penalty win.
The record champions PSG, who faced last season's Ligue 1 second-placed team Marseille after achieving a league and cup double, have now won this trophy for the twelfth time in the last thirteen years.
