Celtic defeated Rangers 5-4 in a penalty shoot-out after a 3-3 draw in an epic Premier Sports Cup final watched by 49,420 fans at Hampden Park.
Daizen Maeda converted the decisive kick after Kasper Schmeichel had earlier saved from Ridvan Yilmaz, who was the only player to miss a penalty.
Holders Rangers had gone ahead through Nedim Bajrami just before half-time but Greg Taylor and Maeda had Celtic 2-1 up by the hour mark.
Mohamed Diomande equalised for Philippe Clement's men with 15 minutes left and there was more drama to come in what was the 79th League Cup final.
Nicolas Kuhn looked to have won it for Brendan Rodgers' side when he swept the ball home with three minutes remaining but Danilo made it 3-3 with a header 60 seconds later.
Extra time was required for the first time since the 2013/14 final but it failed to produce a goal and so the trophy was decided on penalties for the fifth time.
Adam Idah, Callum McGregor, Arne Engels, Reo Hatate and Maeda all scored for Celtic with James Tavernier, Ianis Hagi, Danilo and Jack Butland netting for Rangers.