The Parisian club has now secured the prestigious cup on fourteen different times.
The Parisian giants required a dramatic leveler followed by a successful penalty shootout to overcome Marseille in the Gulf and secure a record-extending fourth consecutive Trophee des Champions victory.
The Champions League holders appeared to be sailing towards a straightforward triumph in the showdown featuring the French league champions and the French Cup winners after the French winger found the net in the opening stages.
Yet, the southern French side struck twice in the closing moments to seize a shock advantage. First, the English forward scored from the penalty spot, before the defender unfortunately directed the ball into his own net for an own-goal.
In a breathtaking turn of fortune, Goncalo Ramos snatched a vital equaliser in the final moments to force the contest into a deciding shootout. PSG goalkeeper Chevalier then stood as the hero, stopping crucial attempts from O'Riley and Hamed Traore.
From the spot, Ramos, the midfielder, Nuno Mendes, and Desire Doue all scored with composure for Paris Saint-Germain to seal a 4-1 penalty victory.
Now 14-time champions PSG, who faced last season's Ligue 1 runners-up Marseille after completing a domestic double, have now lifted this trophy for the 12th time in the past 13 seasons.