Los Blancos finally ended their wait for La Decima thanks to goals from Sergio Ramos, Gareth Bale, Marcelo and Cristiano Ronaldo.
Los Blancos looked set to succumb to Diego Godin's first-half header but Sergio Ramos leveled the game with just over 90 seconds of normal time remaining.
Madrid then realized its Decima dream thanks to extra-time goals from Gareth Bale, Marcelo and Cristiano Ronaldo.
The Spanish side won the first five editions of the European Cup, beating Stade de Reims in the inaugural final at the Parc des Princes in Paris in 1956.
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However, a legendary lineup containing Alfredo di Stefano, Ferenc Puskas and Francisco Gento are best remembered for their era-defining 7-3 demolition of Eintracht Frankfurt in Glasgow's Hampden Park in 1960.
Madrid lost two of the next four finals, to Benfica and Inter, but racked up a sixth success in 1966 courtesy of a 2-1 win over Partizan in Brussels.
However, Los Blancos would not win another European title before the tournament became the Champions League, losing 1-0 by Liverpool in Paris in 1981.
However, the Santiago Bernabeu side brought an end to 32 years of disappointment when it upset Juventus 1-0 in Amsterdam in 1998.
Madrid triumphed again in 2000, beating Valencia 3-0 in the last all-Spanish final, and the club's ninth title followed two years later when it defeated Bayer Leverkusen 2-1 thanks to sensational strike from Zinedine Zidane.
Los Blancos had not made the final since but they finally clinched 'La Decima' by overcoming Atletico in Lisbon.