PSG has now won the season-opening cup on 14 different times.
Paris Saint-Germain needed a dramatic leveler followed by a successful penalty shootout to overcome their arch-rivals in Kuwait and capture a fourth straight Trophee des Champions title.
The European champions appeared to be sailing towards a comfortable win in the showdown between the Ligue 1 winners and the Coupe de France winners after the French winger found the net in the opening stages.
Yet, the southern French side fired two times in the closing moments to seize a surprise lead. First, the English forward converted from the penalty spot, before the defender inadvertently turned the ball into his own net for an own goal.
In a remarkable turn of events, the Portuguese striker grabbed a vital equaliser in the final moments to send the match into a penalty shootout. PSG goalkeeper Chevalier then emerged as the key figure, stopping crucial kicks from O'Riley and Traore.
From the spot, Goncalo Ramos, the midfielder, the full-back, and the young talent all converted with composure for PSG to seal a 4-1 penalty victory.
Now 14-time champions Paris Saint-Germain, who met last season's Ligue 1 second-placed team Marseille after achieving a domestic double, have now lifted this competition for the twelfth time in the past 13 seasons.
