PSG has now won the prestigious trophy on 14 different occasions.
Paris Saint-Germain required a dramatic leveler 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 seemed to be coasting towards a straightforward triumph in the match featuring the Ligue 1 champions and the French Cup winners after Ousmane Dembele opened the net early on.
Yet, the southern French side fired twice late to seize a shock advantage. Initially, Mason Greenwood converted from the spot-kick, before the defender inadvertently turned the ball into his own net for an own-goal.
In a remarkable turn of events, Goncalo Ramos grabbed a vital equaliser in the final moments to force the match into a penalty shootout. PSG goalkeeper Chevalier then stood as the key figure, stopping decisive kicks from Matt O'Riley and Traore.
In the shootout, Ramos, the midfielder, the full-back, and the young talent all converted successfully for PSG to seal a convincing shootout win.
The record champions PSG, who met last season's Ligue 1 second-placed team Marseille after completing a domestic double, have now won this trophy for the twelfth time in the last 13 years.