The German and former Blancos boss believes that ending the 12-year wait for 'La Decima' would relieve the pressure on the club and usher in a new era of continental supremacyReal Madrid win Saturday's Champions League final against Atletico they can rule Europe for years to come.
Los Blancos have been chasing their 10th title since beating Bayer Leverkusen in the 2002 tournament decider, with club president Florentino Perez recently admitting that 'La Decima' had become "an obsession" for everyone at the Santiago Bernabeu.
Consequently, Schuster feels that if Madrid manage to end their wait in Lisbon on Saturday night, it could usher in a new era of dominance.
"Real Madrid have been hoping to claim its 10th European title since 2002," the former Blancos boss told Bild.
"This has created incredible pressure, so a win would be a real release for the club.
"Real also don't have to spend millions again; they already have the frame [of a great side].
"And if this team of stars continues playing as they have been, Real can reign in Europe for years to come."
Madrid have spent just under €522 million (£422m) assembling their current squad. By contrast, Diego Simeone's Atletico side cost just €79m (£64m) to put together.