Los Merengues did it the hard way, but ultimately claimed their eleventh European title following a 1-1 draw at the San Siro, Milan.
Sergio Ramos opened the scoring with a first-half header, but Yannick Carrasco hit an equaliser late on after Antoine Griezmann had missed a penalty.
While Griezmann converted his spotkick in the shootout, his teammate Juanfran missed from the spot before Cristiano Ronaldo hit the winning penalty.
The win takes Los Blancos up to eleven European titles, four clear of AC Milan—in second place on seven wins.
Barcelona sit down in joint third with five continental crowns.
However, despite falling further behind their neighbours, Barca took a moment to tweet their congratulations to their rivals.
— FC Barcelona (@FCBarcelona_es) May 28, 2016
“Congratulations to Real Madrid on winning the Champions League title in Milan,” the Catalan giants wrote, on their @FCBarcelona_es handle.
Before this year’s title, Real last won the crown in 2014 with a victory over Atletico Madrid in Lisbon.
Real, like Barca, have lost three finals, having won four of their five titles in the last decade.