The Parisian club has now claimed the prestigious trophy on fourteen different times.
The Parisian giants needed a stoppage-time leveler followed by a successful penalty shootout to overcome their arch-rivals in Kuwait and secure a record-extending fourth consecutive Trophee des Champions victory.
The Champions League holders seemed to be coasting towards a comfortable win in the showdown between the Ligue 1 champions and the French Cup winners after the French winger found the net in the opening stages.
Yet, the southern French side struck two times late to seize a shock advantage. Initially, the English forward converted from the penalty spot, before Willian Pacho unfortunately directed the ball into his own net for an own goal.
In a breathtaking twist of events, the Portuguese striker snatched a crucial equaliser in the dying moments to force the match into a penalty shootout. The Parisian shot-stopper Chevalier then stood as the hero, stopping decisive kicks from Matt O'Riley and Hamed Traore.
In the shootout, Ramos, Vitinha, the full-back, and the young talent all converted with composure for PSG to complete a 4-1 shootout win.
Now 14-time champions PSG, who met last season's Ligue 1 second-placed team Marseille after completing a league and cup double, have now won this trophy for the 12th time in the past 13 years.