The Azzurri boss is delighted with his team's performance as they proved that they are no pushovers with a fine win over their successors as World Cup champions
Riccardo Montolivo gave Italy the lead early on with a sublime lob, before Xabi Alonso levelled for his side via a penalty after Giorgio Chiellini was judged to have fouled Fernando Llorente in the box.
However, Italy fought back, and it was Liverpool's Alberto Aquilani who stole the win late on with a deflected strike, leaving Prandelli in a satisfied mood.
"We have to take this win in the right way," Prandelli told Rai Uno after the match.
"We had an excellent game, but there were moments where we needed to do more.
"This means we have to work more.
"We had personality and courage.
"It's a very good result for us that shows the work is paying off."
Prandelli reserved praise for forward Antonio Cassano, who produced an excellent performance in his home town.
"Cassano did well and attacked and I am happy for him," the coach agreed.
"He played well, as did Balotelli who gave us important signals tonight.
"We are working hard to play in a good way.
"You could see a difference as Spain are world champions, but we did not disappoint."
The result was Italy's first win over Spain since the quarter-finals of the World Cup in 1994.