Kai Havertz was once again the hero as Chelsea added the final trophy available during Roman Abramovich's reign at Stamford Bridge.
Thomas Tuchel's men were made to fight hard for the FIFA Club World Cup, however, as Brazilian side Palmeiras eyed a shock on the biggest stage.
Romelu Lukaku gave Chelsea the lead in the second half but a penalty for the underdogs saw the game reach extra time. But just as a shootout looked likely, the Blues were awarded a spot-kick of their own.