PSG has now claimed the prestigious trophy on 14 different times.
The Parisian giants required a stoppage-time leveler followed by a perfect spot-kick decider to overcome Marseille in Kuwait and capture a fourth straight French Super Cup title.
The Champions League holders appeared to be sailing towards a straightforward triumph in the showdown between the Ligue 1 winners and the French Cup holders after the French winger found the scoring in the opening stages.
However, the southern French side struck twice in the closing moments to take a surprise advantage. Initially, Mason Greenwood scored from the penalty spot, before Willian Pacho inadvertently turned the ball into his own net for an own goal.
In a breathtaking turn of fortune, the Portuguese striker snatched a crucial leveler in the dying seconds to force the contest into a deciding shootout. PSG goalkeeper Chevalier then emerged as the key figure, stopping crucial kicks from Matt O'Riley and Traore.
In the shootout, Goncalo Ramos, the midfielder, the full-back, and Desire Doue all scored successfully for PSG to complete a convincing shootout victory.
The record winners PSG, who met last season's Ligue 1 runners-up Marseille after achieving a domestic double, have now lifted this competition for the 12th time in the past 13 years.