The tone was set for a dazzling European encounter when both sets of fans unfurled giant tifos before kick-off - PSG's was emblazoned with the words 'the conquest of Europe', while the visitors' banner urged their side to 'give everything'.
In a chaotic opening 45 minutes at the Parc des Princes, both sides did just that.
It was fitting the two top-scoring sides in the Champions League this season put five goals on the scoreboard in a mesmerising, end-to-end opening period.
Harry Kane's penalty was cancelled out by Khvicha Kvaratskhelia's clinical finish, before Joao Neves' glancing header and Michael Olise's moment of individual brilliance left the sides level.
Many will suggest the PSG penalty, awarded after Bayern defender Alphonso Davies was deemed to have handled an Ousmane Dembele cross in the box, was harsh. Dembele calmly converted to give PSG a 3-2 lead at the break.
But the controversial incident was ultimately overshadowed by what pundits called one of the greatest halves of football they had ever witnessed.
Former England captain Alan Shearer said on Amazon Prime: "I can't stop smiling at how open and bonkers this game is.
"It's one of the greatest games I've ever been to. Two teams that believe in their own ability to outscore their opponent."
The chaos continued after the break with PSG building a three-goal cushion, again through Kvaratskhelia and Dembele, leaving some to wonder if the outcome had been settled.
But Bayern were unwilling to let the chance of a first Champions League title since 2020 get away from them as they fought back in fearsome fashion.
Goals from Dayot Upamecano and Diaz were met with stunned silence from the home fans and no further response from the PSG players as the hosts finished with a slim advantage.
"I have been managing for more than 15 years, and I have to say it was the most exciting [match]," added Luis Enrique.
"It is important to show that that is the way to try to play football. OK, we are not happy as a coach when you concede four goals, but I'm happy because we won."
It was the first time in any major European semi-final that both sides had scored at least four goals, and just the second time in a Champions League knockout match after Chelsea and Liverpool drew 4-4 in the 2008-09 quarter-final.
With PSG netting 43 goals and Bayern 42, it was also the first time two teams have each scored more than 40 times in a Champions League campaign.
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