Real Madrid set up a repeat of their 1998 Champions League final against Juventus, despite a 2-1 defeat to city rivals Atletico Madrid on Wednesday.

Relive the Derbi as it happened with Football Espana’s liveblog!

Saul Niguez and a Antoine Griezmann penalty gave Atleti hope of a 'remontada' inside the opening 16 minutes, but Isco broke Los Colchoneros' hearts on the stroke of half-time as Madrid held on for a 4-2 aggregate victory to make the trip to Cardiff on June 3.

Isco, Cristiano Ronaldo and Karim Benzema led the line for Madrid against an Atleti side that had no recognised right-back, with Josema Gimenez filling for Juanfran Torres and Sime Vrsaljko.

With a 3-0 deficit to overturn and the Vicente Calderon hosting its last-ever European game, Atleti started like a house on fire as Yannick Carrasco’s cross from the left was met by Antoine Griezmann, but his sliding finish was blocked by Keylor Navas at his near post.

At the other end, Toni Kroos’ free kick was headed on target by Casemiro, but Jan Oblak got down low in a split-second to push the ball away.

Nonetheless, Saul Niguez grabbed the early goal that Atleti needed, the midfielder powering a header past Keylor.

Fernando Torres was one game away from his 100th in Europe, and the striker was caught from behind by Raphael Varane for an Atleti penalty.

Atleti wanted to play on, but the decision stood and Griezmann fired the penalty past Keylor, despite the Costa Rican getting a hand.

Yet Los Rojiblancos went from needing one goal to three more just three minutes before the break, when Karim Benzema miraculously kept the ball in play down the far left, having been faced by three home defenders near the corner flag, to which Isco netted the rebound.

Indeed, the midfielder extended his run of not losing a match for club or country in which he scored to 47, while Madrid set a record of netting in 61 consecutive games for a club in Europe’s top five Leagues.   

Almost straight after the restart, Cristiano Ronaldo – Madrid’s hero in the first leg – smashed a free kick at Atleti’s goal, but it was pushed away by Oblak on the line.

The visitors went on to do a magnificent job of stifling any threat Atleti posed, particularly thanks to Luka Modric, who glided all over the pitch, regularly recycling possession.

They soon overloaded the ball wonderfully down the left as Marcelo cut back for Ronaldo, whose scuffed shot goes just wide.

On the other hand, Danilo – in for the injured Dani Carvajal – was their weak link.

He was caught out again by Carrasco, who shifted onto his stronger right foot and opened his body up for the shot, but his curler was parried away by Keylor, who then plucked Kevin Gameiro’s header out of the air.

Madrid should’ve equalised when a deep corner was smacked on target by Modric first time and appeared to take a nick off Ronaldo before going in, but the No 7 seemed to be level with Atleti’s late offside trap.

Benzema also deserved a goal after a performance that ranked among his best for Los Merengues, and a deep delivery towards Oblak’s far post to the right was met by the Frenchman’s diving header, but it went inches wide.

Two more chances saw Sergio Ramos throw himself onto the end of Angel Correa’s low cross to deny Gameiro from a tap-in, before Gabi Fernandez prevented a cross from reaching Ronaldo for a certified, second Madrid goal.

The rain suddenly began chucking down in the latter stages, but it didn’t stop Madrid’s celebrations after the final as they booked their 15th European Cup final – one of them a 1-0 win against Juve some 19 years ago – and remained on course to become the first team to defend the trophy in the modern era.

Atletico Madrid 2-1 Real Madrid (2-4 agg.)

Saul 12, Griezmann pen 16 (AM) Isco 42 (RM)

Atletico Madrid: Oblak; Gimenez (Partey 57), Godin, Savic, Filipe; Gabi, Saul, Koke (Correa 76), Carrasco; Griezmann, Torres (Gameiro 56)

Real Madrid: Navas; Danilo, Varane, Ramos, Marcelo; Modric, Casemiro (Lucas Vazquez 77), Kroos; Isco (Morata 88), Benzema (Asensio 77), Ronaldo

Referee: Cakir (TUR)