PSG has now won the season-opening cup on fourteen different occasions.
The Parisian giants required a dramatic equaliser followed by a successful spot-kick decider to overcome Marseille in Kuwait and capture a fourth straight French Super Cup title.
The European champions seemed to be coasting towards a comfortable win in the match between the Ligue 1 winners and the French Cup winners after the French winger found the scoring early on.
However, the southern French side fired twice late to seize a shock lead. First, the English forward converted from the penalty spot, before the defender unfortunately directed the ball into his own net for an own-goal.
In a breathtaking twist of fortune, the Portuguese striker grabbed a crucial equaliser in the final seconds to send the contest into a penalty shootout. PSG goalkeeper Chevalier then stood as the key figure, stopping decisive kicks from O'Riley and Traore.
In the shootout, Goncalo Ramos, the midfielder, Nuno Mendes, and Desire Doue all scored with composure for Paris Saint-Germain to complete a convincing shootout win.
The record champions Paris Saint-Germain, who met last season's Ligue 1 second-placed team Marseille after completing a league and cup double, have now won this trophy for the 12th time in the past thirteen years.