The victory denied Lyon their first trophy since the French Cup in 2012.

The match finished 0-0 and Lyon were save away from winning, leading 5-4 in the shootout.

But Neymar held his nerve, slotting the ball into the bottom corner to draw PSG level and Lyon winger Bertrand Traore's subsequent penalty was saved by Keylor Navas.

Winger Pablo Sarabia confidently placed the next penalty past goalkeeper Anthony Lopes to give PSG the win to follow up on last Friday's 1-0 victory against Saint-Etienne in the French Cup.

Lyon won the League Cup in 2001, losing four other finals in the competition.

Although Lyon played better in extra time, defender Rafael was shown a red card moments from the end for a clumsy foul on PSG winger Angel Di Maria on the edge of the penalty area.

PSG were missing star striker Kylian Mbappe, who is recovering from ankle ligament damage sustained playing against Saint-Etienne, and now has other injury worries.

Striker Mauro Icardi, right back Layvin Kurzawa and veteran captain Thiago all went off during the game with leg injuries.

The match kicked off shortly after 9 pm in stifling 32-degree heat.

An even contest saw chances for both sides, with Lyon goalkeeper Lopes making superb saves to keep out a long shot from midfielder Idrissa Gueye near the end of the first half and a point-blank header from Neymar in the 87th minute.

PSG goalie Navas was also sharp when it mattered, leaping to save a fine freekick from Maxwell Cornet in the 81st.

Australian Associated Press