The Parisian club has now won the prestigious cup 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 fourth straight Trophee des Champions title.
The European champions appeared to be sailing towards a comfortable win in the match between the Ligue 1 champions and the French Cup winners after Ousmane Dembele found the scoring early on.
However, the southern French side fired two times late to seize a shock lead. Initially, Mason Greenwood scored from the penalty spot, before the defender unfortunately turned the ball into his own net for an own-goal.
In a remarkable turn of events, the Portuguese striker grabbed a crucial leveler in the dying seconds to force the match into a penalty shootout. PSG goalkeeper Chevalier then stood as the key figure, stopping crucial attempts from Matt O'Riley and Hamed Traore.
In the shootout, Ramos, Vitinha, the full-back, and the young talent all scored with composure for PSG to complete a 4-1 penalty victory.
The record champions Paris Saint-Germain, who faced last season's Ligue 1 second-placed team Olympique de Marseille after achieving a league and cup double, have now won this trophy for the twelfth time in the last thirteen years.