The Parisian club has now secured the prestigious trophy on fourteen separate occasions.
Paris Saint-Germain required a dramatic leveler followed by a successful penalty shootout to get past their arch-rivals in Kuwait and capture a record-extending fourth consecutive Trophee des Champions title.
The European champions seemed to be coasting towards a comfortable win in the showdown between the French league winners and the French Cup holders after the French winger opened the scoring in the opening stages.
Yet, the southern French side struck twice late to seize a shock advantage. Initially, Mason Greenwood converted from the spot-kick, before Willian Pacho unfortunately turned the ball into his own net for an own goal.
In a remarkable twist of fortune, the Portuguese striker grabbed a vital leveler in the final moments to send the match into a penalty shootout. PSG goalkeeper Chevalier then stood as the key figure, saving crucial kicks from Matt O'Riley and Traore.
In the shootout, Goncalo Ramos, Vitinha, the full-back, and Desire Doue all scored with composure 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 league and cup double, have now lifted this trophy for the 12th time in the last 13 years.