Two years ago, the two finalists met in Lisbon in what was the first final fixture involving clubs from the same city in European Cup history.
It ended up being a painful night for Atletico fans, as after watching their team lead 1-0 deep into stoppage time, Madrid equalised, before going on to triumph 4-1 after extra time and claiming La Decima.
History certainly favours Los Blancos heading into this game – this is the sixth one-country Champions League final, with Madrid having won two of the previous five.
Madrid also came out on top against Atletico in the 2014-15 Champions League quarter-finals.
There is sure to be a huge betting interest in what is the climax of the European club season, and you can compare all of the latest offers and promotions here.
It is hard to look past Real Madrid’s experience in this fixture. This is Madrid’s 27th European final and in addition to their 13 European Cup appearances, they were Uefa Cup winners in 1985 and 1986.
Atletico, however, have been in very impressive form in recent weeks and knocked Barcelona out of the Champions League at the quarter-final stage back in April.
Diego Simeone’s side have never won the Champions League and should they do it this time around, they will become the first new team to do so since Chelsea’s dramatic triumph over Bayern Munich in the final back in 2012.
Real Madrid’s star man needs no introduction. Cristiano Ronaldo has once again been in sensational form for Real, scoring 16 goals in this season’s Champions League to leave him just one strike short of his own record for a European campaign from 2013-14.
The man in charge of Real Madrid also boasts a special record from his playing days against their Champions League final opposition. Zinedine Zidane – who replaced Rafael Benitez earlier in the season – never lost to Atletico during his playing days with Madrid, winning six and drawing two of their eight games.
Real Madrid will of course be looking to end a frustrating season on a high after watching Barcelona win the La Liga title on the final day of the season.
It all makes for a fascinating showdown as the two Spanish sides prepare to do battle in Milan.
MORE: The latest football news
MORE: The latest tennis news
BIOGRAPHY: Ethan Hazard
BIOGRAPHY: Daniel Sturridge