The Parisian club has now won the season-opening trophy on fourteen different times.
The Parisian giants needed a dramatic equaliser followed by a perfect spot-kick decider to overcome Marseille in Kuwait and capture a fourth straight Trophee des Champions victory.
The European champions seemed to be coasting towards a comfortable win in the match featuring the French league winners and the Coupe de France winners after Ousmane Dembele found the scoring in the opening stages.
Yet, the southern French side struck twice late to seize a surprise lead. Initially, Mason Greenwood converted from the penalty spot, before Willian Pacho inadvertently turned the ball into his own net for an own goal.
In a remarkable twist of fortune, the Portuguese striker snatched a crucial leveler in the dying moments to send the contest into a penalty shootout. PSG goalkeeper Chevalier then emerged as the key figure, stopping decisive kicks from Matt O'Riley and Hamed Traore.
From the spot, Goncalo Ramos, the midfielder, the full-back, and Desire Doue all scored with composure for PSG to complete a convincing penalty victory.
Now 14-time winners PSG, who faced last season's Ligue 1 second-placed team Marseille after achieving a league and cup double, have now lifted this trophy for the 12th time in the last thirteen years.