PSG has now won the season-opening trophy on fourteen separate times.
The Parisian giants required a dramatic equaliser followed by a perfect spot-kick decider to overcome Marseille in Kuwait and secure a record-extending fourth consecutive Trophee des Champions title.
The Champions League holders appeared to be coasting towards a comfortable triumph in the match between the Ligue 1 winners and the French Cup holders after Ousmane Dembele found the scoring in the opening stages.
However, the southern French side fired two times in the closing moments to seize a shock lead. First, Mason Greenwood scored from the spot-kick, before the defender unfortunately directed the ball into his own net for an own-goal.
In a breathtaking twist of events, Goncalo Ramos snatched a crucial equaliser in the final seconds to force the match into a deciding shootout. The Parisian shot-stopper Chevalier then emerged as the hero, stopping decisive kicks from O'Riley and Hamed Traore.
In the shootout, Goncalo Ramos, the midfielder, the full-back, and the young talent all scored with composure for PSG to seal a convincing shootout win.
Now 14-time champions Paris Saint-Germain, who met last season's Ligue 1 second-placed team Marseille after completing a domestic double, have now won this competition for the twelfth time in the past thirteen seasons.