PSG has now won the season-opening cup on fourteen different times.
Paris Saint-Germain needed a dramatic leveler followed by a successful penalty shootout to overcome their arch-rivals in Kuwait and capture a fourth straight Trophee des Champions victory.
The European champions seemed to be coasting towards a comfortable triumph in the match between the Ligue 1 champions and the Coupe de France holders after the French winger found the net in the opening stages.
Yet, the southern French side fired two times late to seize a surprise advantage. First, Mason Greenwood converted from the penalty spot, before the defender inadvertently directed the ball into his own net for an own-goal.
In a remarkable twist of events, Goncalo Ramos grabbed a crucial leveler in the dying moments to force the match into a penalty shootout. The Parisian shot-stopper Chevalier then stood as the key figure, stopping crucial kicks from O'Riley and Traore.
From the spot, Ramos, the midfielder, Nuno Mendes, and the young talent all scored with composure for PSG to complete a convincing shootout victory.
Now 14-time champions Paris Saint-Germain, who faced last season's Ligue 1 runners-up Olympique de Marseille after achieving a league and cup double, have now won this competition for the 12th time in the past 13 seasons.