That's all from us
A year after ripping apart Inter Milan with an attacking master class, PSG this time found another way to the title after bashing into a solid red wall for 120 minutes.
There was none of the swagger of last year's final, but the Parisians have proven their resilience and shown they can win the hard way too.
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PSG 'best in the world', says Arteta
More from the Arsenal manager, who has acknowledged there is still a gap between his team and PSG.
"I want to congratulate PSG, Luis (Enrique, the coach) in particular, because in my opinion they are the best in the world," Arteta told reporters in Budapest.
"What they are able to do with the ball, with individual actions, I haven't seen it (before), and it's not a plan to play in certain scenarios when you don't have the ball but they force you to do that. So even more praise to the players."
PSG fight back in cagey final to win consecutive Champions League titles
Paris Saint-Germain held their nerve in a cagey final to retain the title after a nail-biting penalty showdown.
Here's our match report.
Arteta: 'We got a big one and we missed the biggest one'
Here's a few words from the Arsenal manager, reflecting on what remains a fantastic season for the Premier League champions.
"It is very tough to accept when you are so consistent in the competition all the way to the final and at the end you lose the trophy on penalty kicks, so it is a difficult one," he said.
"I'm so proud of the team. This season that we have. They've given us so much joy. It's just a privilege to manage this group of players. We got a big one (the Premier League) and we missed the biggest one."
PSG fans leave the Parc des Princes, heading for a night of partying on the Champs-Elysées and across Paris.
Declan Rice: 'We win together, we lose together'
"It’s gutting. It’s devastating to lose the Champions League final on penalties," says the Arsenal captain.
"We took the game to penalties. It’s a lottery. Some of the best teams ever have lost on penalties in a final and we were on the receiving end tonight," Rice adds.
"We win together and we lose together. I’m so proud of this group. What a season – it’s been an incredible journey. We’ll be back."
Luis Enrique: Second title 'even bigger'
"It is even bigger because we knew of the difficulties of playing against Arsenal, and for us as a team and a city it is incredible to win it," the Spaniard tells French broadcaster Canal+.
"I think we have deserved it over the course of the season even if the final was really close-fought," he added.
PSG are now the first team to retain the Champions League trophy since Real Madrid won three in a row between 2016 and 2018.
Credit: AFP
Gunners fall just short of European glory
Arsenal have picked up the runers-up medal, after a superb performance that saw them come close to toppling one of the all-time great teams.
It wasn't the prettiest of finals, but Arsenal were magnificent in defence, successfully thwarting the mightiest attack in Europe.
'Don't cause any trouble,' Marquinhos tells fans
"It's a different feeling. From the first day of the season, the coach said 'It's hard to win, but winning twice is even harder'," says the PSG captain.
"I think the atmosphere at the Parc des Princes was incredible. Thank you to the Parc des Princes, thank you to everyone in Paris. Enjoy it guys, but in moderation, don't cause any trouble!"
'Bravo' from the French president
"A new star shines over Paris. Bravo to PSG who are making all of Europe dream. France is proud," French President Emmanuel Macron has posted.
The moment Gabriel's penalty flies over the crossbar.
PSG celebrate wildly, heartbreak for Arsenal
A year after becoming only the second French club to win the Champions League, PSG are now the first to win two after a dramatic penalty shootout in Budapest.
Arsenal's Gabriel, a rock in the Gunners' defence, blasted the final penalty high over the bar to spark celebrations from PSG players and fans inside Puskas Arena.
Gabriel misses... PSG win Champions League again!
Gabriel does a Baggio, the ball flies over the crossbar, and Paris Saint-Germain have won back-to-back titles!
Berlando scores! PSG 4-3 Arsenal
It's match point PSG.
