The winners are awarded a replica of the trophy (the original remains with UEFA), while the losing finalists (and semi-finalists) are presented with a plaque.

France and Italy have won the competition twice, while six other teams, the Soviet Union, Czechoslovakia, the Netherlands, Denmark, Greece, and Portugal, have triumphed once.

Nearly 80,000 spectators at the Santiago Bernabéu Stadium in Madrid had to wait for the winner which came six minutes from time, courtesy of a header from Spaniard Marcelino.

The Soviet Union, finalists for the third time in four tournaments, were defeated 3–0 by West Germany with Gerd Müller and Herbert Wimmer scoring the winning goals.

After seven successful conversions, Uli Hoeneß missed, leaving Czechoslovakian Antonín Panenka with the opportunity to score and win the tournament.

An "audacious" chipped shot,[9] described by UEFA as "perhaps the most famous spot kick of all time" secured the victory as Czechoslovakia won 5–3 on penalties.

With two minutes remaining, Hrubesch headed West Germany into the lead from a Karl-Heinz Rummenigge corner, securing his country's second victory in the championship.

[17] Following Yugoslavia's expulsion from the competition in 1992, Denmark were invited to take their place and qualified for the final where they faced a team from the newly reunified Germany.

France, who had won the 1998 FIFA World Cup,[20] met Italy in the Feijnoord Stadion in the Netherlands, both nations making their second appearance in the final.

[22] Despite never having won a match in a "major tournament", a second-half goal from striker Angelos Charisteas caused "one of the biggest upsets in soccer history".

[26] In UEFA Euro 2020, which was actually held in 2021 due to the COVID-19 pandemic in Europe, Italy won their second title after beating first-time finalists England on penalties.