The Parisian club has now won the season-opening cup on 14 different occasions.
The Parisian giants needed a dramatic leveler followed by a successful 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 straightforward win in the match featuring the French league winners and the Coupe de France winners after the French winger opened the net in the opening stages.
However, the southern French side struck two times late to seize a surprise lead. Initially, the English forward scored from the penalty spot, before Willian Pacho inadvertently turned the ball into his own net for an own-goal.
In a breathtaking turn of events, Goncalo Ramos snatched a vital equaliser in the dying seconds to force the contest into a penalty shootout. PSG goalkeeper Chevalier then emerged as the hero, saving decisive attempts from O'Riley and Hamed Traore.
In the shootout, Ramos, Vitinha, the full-back, and Desire Doue all scored successfully for PSG to complete a 4-1 penalty victory.
Now 14-time winners 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 12th time in the past thirteen years.