Chelsea's Izzy Brown gave the English outfit the lead after just seven minutes, latching onto a cut-back from the tournament's leading scorer Dominic Solanke to tuck home from 12 yards.
Denys Arendaruk cross leveled matters for Shakhtar as the first half drew to a close when Andreas Christensen control the ball which rolled into his own net.
Chelsea, though, picked up again in the second half and Solanke got a goal of his own with a towering header from Jeremie Boga's cross just two minutes after the restart.
Brown added his second and Chelsea's third just eight minutes later with a cool finish from the edge of the area as Shakhtar, who were unbeaten in the competition's nine games heading into the tie, collapsed.
It was a confident performance from Chelsea, who dominated proceedings before Viktor Kovalenko netted a stoppage-time consolation, and become the second team to win the tournament after Barcelona last year.
Photo Credit: Goal.com