There, team captains Sergio Ramos and Marcelo climbed a temporary set of stairs to present the European Cup from atop the stature in the fountain in the square.
With the crowd in a frenzy, four-time Ballon d'Or victor Ronaldo - who finished the season with 42 goals in all competitions and as the Champions League's top scorer - ended up singing, "Cristiano, Ballon d'Or" and the fans joined in.
"We played very well in the first half".
The 4-1 victory saw the Spanish side become the first team in the Champions League era to retain the title - and doing so on home turf meant a lot to their Welsh star. "We didn't have possession", Zidane told reporters. "Today is a historic day for all Madridistas, for the players, for me, for all our family".
Zidane has already started giving chances to Marco Asensio, the 21-year-old attacking midfielder who netted Madrid's fourth against Juventus and he may choose to add midfielder Marcos Llorente to his squad after his fine season on loan at Alaves.
As a player, he was in two consecutive Champions League finals with Juventus, losing both times, including to Madrid in 1998.
Street merchants selling memorabilia had sold out of scarves six hours before kick-off as traders enjoyed a bumper day like no other in a city which is accustomed to hosting grand sporting occasions.More news: Gun salute for Lashkar-e-Taiba terrorists killed in south Kashmir
Juve had been bidding to complete a Treble of Serie A, Coppa Italia and Champions League successes and Allegri said they could still reflect on their season with pride.
"In the first half we played beautifully".
Madrid's attacking brilliance proved too hard for Juventus to contain, giving Zinedine Zidane his second Champions League title in 18 months of top-flight management.
Madrid had looked to be facing an uphill battle after Mario Mandzukic cancelled out Cristiano Ronaldo's opening goal with an exquisite overhead kick. With his first strike on goal, the ruthless Ronaldo found the bottom-left corner to score his 104th goal in the competition.
"The second half was better". They controlled the match through the metronomic Luka Modric and struck twice in quick succession to ensure the Italians would suffer a fifth successive European Cup final defeat.
His career goal tally in club and global soccer now stands at 600.
"I need to go on holiday and rest, and come back stronger next season - mainly for my ankle just to get it properly recovered", Bale said.