Cole Palmer's second-half header took the game to spot kicks after an impressive Youssef En-Nesyri goal in the first half had put Sevilla ahead.
There Guardiola's men made no mistake before Sevilla defender Nemanja Gudelj struck the bar with the tenth and final penalty of the night.
It confirmed our fourth trophy of 2023 and Guardiola's 15th since arriving at City in 2016.
We didn't have it all our own way, with Ederson called into action on several occasions.
At the other end, the Blues peppered Yassine Bounou's goal throughout the 90 minutes even as the Europa League winners defended stoutly deep in their own half.
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