The Parisian club has now secured the prestigious cup on 14 separate times.
The Parisian giants required a stoppage-time leveler followed by a perfect spot-kick decider to overcome their arch-rivals in Kuwait and capture a fourth straight French Super Cup victory.
The European champions seemed to be sailing towards a comfortable triumph in the showdown featuring the Ligue 1 winners and the French Cup holders after the French winger found the scoring early on.
Yet, the southern French side fired two times in the closing moments to take a shock lead. First, the English forward converted from the spot-kick, before the defender unfortunately directed the ball into his own net for an own-goal.
In a remarkable twist of events, Goncalo Ramos grabbed a crucial leveler in the final moments to force the contest into a penalty shootout. The Parisian shot-stopper Chevalier then stood as the key figure, stopping decisive kicks from Matt O'Riley and Traore.
From the spot, Ramos, the midfielder, the full-back, and Desire Doue all scored successfully for PSG to complete a 4-1 shootout victory.
Now 14-time champions PSG, who faced last season's Ligue 1 second-placed team Marseille after achieving a domestic double, have now won this trophy for the 12th time in the last thirteen seasons.