Mbappe scooped the best young player award as France won the World Cup in the summer and is expected to become the first individual to retain the Golden Boy prize.
The former Monaco forward had enjoyed an impressive start to the 2018-19 campaign, scoring four times in as many Ligue 1 games but was forced to miss three matches after being sent off against Nimes Olympique in September.
Lyon's trip to the Parc des Princes was Mbappe's first home league appearance since his return from suspension - and he produced a performance which will live long in the memory.
Neymar gave PSG a half-time lead from the penalty spot, but red cards for Presnel Kimpembe and Lucas Tousart had given proceedings an ill-disciplined tinge.
But after the hour mark, the stage belonged to Mbappe who scored four times in the space of 13 second half minutes as PSG ran riot to further cement their leadership of Ligue 1.
Following Neymar's mazy run, Mbappe smashed the ball in off the post after 61 minutes. He doubled his tally when Marquinhos crossed, tapping into a virutally empty net.
4 – Kylian Mbappé is the youngest player (19 years and 9 months) to score 4 goals in one game in Ligue 1 over the last 45 seasons. Precocity. pic.twitter.com/W2ZC4ngbrE
— OptaJean ⭐⭐ (@OptaJean) October 7, 2018
Neymar then turned provider for a second time as he put the 19-year-old clean through, with golkeeper Anthony Lopes beaten by an arrowing shot from 18 yards.
The remarkable display was complete when Mbbape reacted first after Neymar's shot was cleared off the line and slammed into the net.
"I missed some opportunities yes, and I should have scored more goals, but that's normal," said the teenager.
"It's part of the steps that I have to go through, to really get to the top. But I will work.
"My teammates have supported me a lot. I never doubt tonight. Because for a striker, as long as opportunities are created for me, everything is fine.
"I knew that if I made the right gesture it would come back and my teammates gave me lots of good balls. That's why I could score so many tonight."
Mbappe's haul saw him become the youngster player in 45 seasons to score four goals in one French top flight match in a victory which all-but secures a second straight title for PSG.
Victory saw Thomas Tuchel's side became the first to win their first nine games of any Ligue 1 season as they went eight points clear at the top.