In what was a goal-tending duel, Spain managed to squeak through Portugal after great chances were exchanged between both teams in the overtime period.
Spain will now advance to the final in Kiev, Ukraine on Sunday to face the winner of Germany and Italy.
The start of the penalty kicks followed a similar trend to the whole match as both goaltenders made spectacular saves to keep their shutouts alive. Spain's depth and talent finally got the best of Portugal as Andres Iniesta, Gerard Pique, Sergio Ramos and Cesc Fabrigas scored to defeat Portugal in the shootout.
Spain's dominance in international play has been astonishing. In the past decade Spain has owned the international stage by winning the Euro in 2008 and the last World Cup in 2010. They will look to win their 3rd straight international championship on Sunday in Ukraine.