Vicente del Bosque's men have looked every inch the reigning champions so far in the competition, making it almost look too easy as they comfortably brush aside all before them.
Unsurprisingly then, the Spanish are heavy favourites tonight, with Paddy Power offering odds of 19/20 (1.95) on La Roja reaching their third successive major final.
The Seleccao actually came out on top in the last meeting between these two sides, thrashing their Iberian neighbours 4-0 in an astonishing friendly match two years ago.
Although they surely cannot dare to dream of registering such a score-line tonight, the memory of that game will undoubtedly give Paulo Bento's men confidence that they can cause an upset, at odds of 7/2 (4.50).
The two teams have not drawn in their last four meetings, but are available at 23/10 (3.30) to buck that trend and cancel each other out in this match.
Those hoping to see a different name on the trophy this year have drawn hope from a Spanish defence that has looked slightly frail when put under pressure, as Croatia demonstrated in the final group game.
In the end, poor finishing let the Croatians down, but Portugal should have more luck with the devastating Cristiano Ronaldo up front.
The Real Madrid man is defying the doubters who questioned his performances on the biggest stage, and he is available at 2/1 (3.00) to add to his three tournament goals this evening.
If he does hit the back of the net, then Paddy Power will refund all losing correct score bets, and this offer seems too good to refuse.
As usual, Spain can be expected to monopolise the possession tonight, but may find Portugal a tough nut to crack, as Germany did in their opening game.
If Ronaldo does fail to score then Spain should come out on top, and a comfortable 1-0 victory will no doubt suit them nicely.
You can get odds of 9/2 (5.50) on that score-line taking place in Donetsk, the best value bet, though, is to take Spain to triumph by a single goal margin at 5/2 (3.50).
|Cristiano Ronaldo to score anytime at 2/1 (3.00) with Paddy Power
||Spain to win by one goal at 5/2 (3.50) with Paddy Power
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Al Hain-Cole is a Liverpool fan, experienced tipster and avid follower of European football. He specialises in accumulators and if you would like to read more from Al you can follow him on Twitter here.
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