Atletico Madrid have reached the final of the Champions League for the first time after beating Chelsea 3-1 at Stamford Bridge this evening, setting up a match against local rivals Real Madrid in next month's showpiece.

The visitors struck the crossbar just five minutes into the match when Mark Schwarzer misread a Koke cross, which was eventually put behind for a corner.

Chelsea tried to apply pressure down the other end, but a long ball forward from David Luiz intended for Fernando Torres was claimed by Thibaut Courtois in the Atletico goal.

The La Liga leaders had another chance to take the lead later in the half when Gary Cahill gave away a free kick just outside the box, but Koke's delivery was headed away by John Terry.

Torres, who was making his 50th appearance in the Champions League, managed to break the deadlock with a deflected tap-in from a Cesar Azpilicueta cross to give Chelsea the lead against his former club.

The hosts' advantage was short-lived though, as Adrian turned the ball in at the post just before the break from a Juanfran cross, giving the Spanish side a potentially vital away goal.

Chelsea had a chance to regain the lead early in the second half when Terry tried to finish from a Willian free kick, but Courtois, who was playing against his parent club, denied the captain.

Atletico were awarded a penalty on the hour mark when Samuel Eto'o, who had only just come off the bench, gave away a penalty for a foul on Diego Costa.

The striker elected to take the spot kick himself, but was booked in the build-up after taking too long to place the ball on the spot, before he eventually fired it into the roof of the net for the team's second goal of the night.

Chelsea almost got back on level terms just five minutes later when another Willian free kick fell to Luiz, but his finish was kept out by the post.

The miss allowed the visitors to head back down the other end, dominating possession before adding their third goal through Arda Turan, who initially hit the crossbar before slotting in the rebound.

Chelsea continued to push forward in the closing minutes, but they were unable to trouble Courtois again until the final seconds when Eden Hazard tried to drill the ball in from the edge of the box, but the Belgian kept it out.

May's final in Lisbon will be the first to feature two clubs from the same city.