PSG has now won the season-opening cup on fourteen separate occasions.
The Parisian giants needed a stoppage-time leveler followed by a successful spot-kick decider to get past Marseille in Kuwait and capture a fourth straight Trophee des Champions title.
The European champions appeared to be sailing towards a straightforward win in the match featuring the Ligue 1 winners and the French Cup holders after Ousmane Dembele opened the net in the opening stages.
Yet, the southern French side struck two times in the closing moments to take a shock advantage. Initially, the English forward scored from the spot-kick, before the defender unfortunately turned the ball into his own net for an own goal.
In a breathtaking twist of events, the Portuguese striker grabbed a vital equaliser in the dying moments to force the match into a deciding shootout. PSG goalkeeper Lucas Chevalier then emerged as the key figure, stopping decisive kicks from Matt O'Riley and Traore.
In the shootout, Goncalo Ramos, Vitinha, the full-back, and Desire Doue all converted successfully for Paris Saint-Germain to complete a 4-1 shootout win.
The record champions Paris Saint-Germain, who met last season's Ligue 1 runners-up Marseille after achieving a league and cup double, have now won this trophy for the 12th time in the last 13 years.