PSG has now claimed the season-opening cup on 14 different occasions.
Paris Saint-Germain required a dramatic leveler followed by a perfect spot-kick decider to get past Marseille in Kuwait and secure a fourth straight Trophee des Champions victory.
The European champions seemed to be sailing towards a comfortable win in the showdown between the French league winners and the Coupe de France holders after Ousmane Dembele opened the net early on.
However, the southern French side struck twice late to take a shock lead. Initially, Mason Greenwood scored from the spot-kick, before the defender inadvertently directed the ball into his own net for an own-goal.
In a breathtaking twist of fortune, the Portuguese striker snatched a crucial equaliser in the dying moments to force the match into a deciding shootout. PSG goalkeeper Chevalier then stood as the key figure, stopping decisive attempts from O'Riley and Traore.
In the shootout, Goncalo Ramos, Vitinha, Nuno Mendes, and Desire Doue all scored successfully for PSG to complete a 4-1 penalty victory.
The record champions Paris Saint-Germain, who met last season's Ligue 1 runners-up Olympique de Marseille after completing a domestic double, have now won this competition for the 12th time in the past 13 seasons.
