This, after the match had finished 1-1 after regular and extra-time.
Spain coach Luis Enrique made three changes with Eric Garcia, Dani Olmo and Mikel Oyarzabal coming into the side. Italy coach Roberto Mancini made just one alteration to his side with Emerson replacing Leonardo Spinazzola.
In the fourth minute, Emerson released Nicolo Barella down the left-hand side and he took it around Unai Simon before his deflected effort hit the far post, but the flag went up for offside shortly afterwards.
Spain had their first real chance with 25 minutes gone. Oyarzabal laid it off to Olmo on the edge of the box. His initial shot was blocked by Leonardo Bonucci with the rebound effort forcing Gianluigi Donnarumma into making the save down to his right.
The Azzurri came the closest either side had come to scoring on the stroke of half-time. Lorenzo Insigne cut inside from the left and laid it off to Emerson, who went for goal from a tight angle and it hit the crossbar.
In the 52nd minute, La Roja came close. Cesar Azpilicueta released Oyarzabal down the right and he teed up his skipper Sergio Busquets on the edge of the box, who curled one towards the near top corner but it grazed the crossbar on its way over.
Mancini's side broke the deadlock on the hour mark. Donnarumma launched the breakaway and Ciro Immobile found Chiesa, who curled a superb finish into the far corner.
Spain then came close twice in quick succession soon afterwards, first through Oyarzabal and then Olmo. Chances were coming thick and fast as Unai Simon then saved from Domenico Berardi with his legs.
The Spaniards equalised in the 80th minute and it was just reward as they had been the better team. Alvaro Morata, only recently having come on, played the one-two with Olmo before side footing the ball into the back of the net from close range.
The sides could not be separated in extra-time and so the match went to a penalty shootout. Spain missed two of their four spot-kicks, while Italy converted four of their five. Morata missed Spain's fourth, which gave Jorginho the chance to win it and he made no mistake, with the Chelsea midfielder and goalkeeper Donarruma the heroes in the end.