In doing so, the Azzurri extended their unbeaten run to 33 matches in all competitions ahead of the final of the 2021 football competition.
Roberto Mancini's Italy were not even among the pre-tournament favourites but have shown why they shouldn't be underestimated at major championships.
Italy have qualified for 10 of the 16 European Championships held since its inception in 1960 - but have they ever won the Euros, and if so how many times?
Have Italy ever won the Euros?
Italy added the Euro 2020 trophy to their cabinet with a penalty shootout win over England in the final at Wembley on Sunday 11 July (8pm kick off).
The Azzurri have won the Euros before - in 1968 - in their first appearance at the tournament, which took on a very different look to today's competition.
Firstly, only four teams qualified for the finals tournament, which was rebranded European Championship in 1968, held in Italy across Florence, Rome and Naples.
Yugoslavia beat England 1-0 in one semi final with Italy progressing to the final on a coin toss, after their last four encounter with Soviet Union was locked at 0-0 after extra time.
Tournament rules stated that a coin toss would decide the winner if any match other than the final was still level after extra time - and if the final was level then a replay would take place.
And that's exactly what happened as Italy and Yugoslavia drew 1-1 at the Stadio Olimpico, in Rome, in the final of Euro 68 on 8 June forcing a replay two days later.
Italy won the replay 2-0 in front of 32,886 fans in Rome thanks to first half goals from Luigi Riva and Pietro Anastasi in an Azzurri side featuring legendary goalkeeper Dino Zoff.
How many times have Italy won the Euros?
That win in 1968 was the only time Italy had won the Euros, prior to the Euro 2020 success.
The Italians have been runners up twice - in 2000 and 2012 - been knocked out at the semi final stage twice, and reached the quarter finals twice in nine previous outings.
Italy booked a Euro 2020 final place with a penalty shootout win over Spain and lifted the trophy for the first time in 53 years when they competed at Wembley on Sunday.
They came up against an England side full of confidence after beating Denmark to book a first major tournament final place since the 1966 World Cup.
Past Euros winners list
Germany - 3 (1972, 1980, 1996)
Spain - 3 (1964, 2008, 2012)
France - 2 (1984, 2000)
Netherlands - 1 (1988)
Italy - 1 (1968, 2020)
Greece - 1 (2004)
Denmark - 1 (1992)
Portugal - 1 (2016)
How many times have Italy won the World Cup?
Italy's World Cup record is impressive.
They have won the World Cup four times in their history, with wins at their first two appearances in 1934 and 1938 followed by wins in 1982 and more recently in 2006.
While they can be red hot on the big stage, Italy have also blown cold, and have failed to advance from the group stage on seven occasions from 18 finals appearances.
Italy were runners up in 1970 and 1994, came third in 1990 and fourth in 1978. They have fallen at the quarter final stage once, in 1998, and the Round of 16 twice, in 1986 and 2002.
Italy didn't even qualify for the 2018 World Cup - but if they can continue their recent form there's no doubt the Azzurri will be there in Qatar 2022.