PSG has now claimed the prestigious cup on 14 different times.
The Parisian giants needed a dramatic leveler followed by a successful penalty shootout to get past Marseille in Kuwait and capture a fourth straight Trophee des Champions title.
The Champions League holders appeared to be coasting towards a comfortable win in the match between the Ligue 1 winners and the French Cup holders after Ousmane Dembele opened the scoring in the opening stages.
However, the southern French side struck twice late to seize a surprise lead. Initially, Mason Greenwood converted from the spot-kick, before the defender unfortunately turned the ball into his own net for an own-goal.
In a breathtaking twist of events, the Portuguese striker grabbed a vital equaliser in the dying moments to force the match into a deciding shootout. PSG goalkeeper Chevalier then stood as the hero, stopping decisive kicks from O'Riley and Hamed Traore.
From the spot, Goncalo Ramos, the midfielder, Nuno Mendes, and Desire Doue all converted successfully for PSG to seal a 4-1 penalty win.
Now 14-time winners Paris Saint-Germain, who faced last season's Ligue 1 second-placed team Marseille after achieving a league and cup double, have now lifted this competition for the 12th time in the last 13 years.