PSG has now won the prestigious cup on 14 separate times.
The Parisian giants needed a dramatic equaliser followed by a successful penalty shootout to get past their arch-rivals in Kuwait and capture a record-extending fourth consecutive French Super Cup title.
The Champions League holders seemed to be sailing towards a straightforward triumph in the match featuring the Ligue 1 winners and the French Cup winners after Ousmane Dembele opened the net early on.
However, the southern French side fired twice in the closing moments to take a surprise advantage. Initially, Mason Greenwood scored from the spot-kick, before the defender unfortunately turned the ball into his own net for an own goal.
In a breathtaking turn of events, Goncalo Ramos snatched a crucial leveler in the dying seconds to send the match into a deciding shootout. The Parisian shot-stopper Chevalier then stood as the hero, saving crucial kicks from O'Riley and Traore.
From the spot, Ramos, Vitinha, Nuno Mendes, and the young talent all converted with composure for Paris Saint-Germain to complete a convincing penalty victory.
Now 14-time winners Paris Saint-Germain, who met last season's Ligue 1 second-placed team Olympique de Marseille after completing a league and cup double, have now won this trophy for the 12th time in the last thirteen years.