There were two rounds of matches: a semi-final stage leading to the final to decide the champions.
The final tournament began with the semi-finals on 17 June and ended with the final on 21 June at the Santiago Bernabéu in Madrid.
Spain won the tournament with a 2–1 victory over the Soviet Union.
If scores were still level, a coin toss would be used in all matches but the final.
If the final finished level after extra time, a replay would take place at a later date to decide the winner.