The Parisian club has now secured the prestigious trophy on 14 separate occasions.
Paris Saint-Germain needed a stoppage-time equaliser 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 seemed to be sailing towards a straightforward win in the showdown featuring the French league winners and the Coupe de France holders after Ousmane Dembele opened the net in the opening stages.
However, the southern French side fired twice late to seize a surprise lead. First, Mason Greenwood scored from the spot-kick, before Willian Pacho inadvertently directed the ball into his own net for an own goal.
In a breathtaking twist of fortune, Goncalo Ramos snatched a crucial leveler in the dying seconds to send the match into a deciding shootout. The Parisian shot-stopper Chevalier then emerged as the hero, saving crucial attempts from Matt O'Riley and Hamed Traore.
In the shootout, Goncalo Ramos, Vitinha, the full-back, and Desire Doue all converted successfully for PSG to seal a convincing penalty win.
Now 14-time winners PSG, who faced last season's Ligue 1 second-placed team Marseille after achieving a league and cup double, have now lifted this trophy for the twelfth time in the past 13 seasons.
