Bernabeu to host Copa del Rey final on May 17
The date and venue were agreed at a meeting between officials from the two clubs at the Spanish football federation headquarters outside the capital, the federation said in a statement on their website on Friday.
The match will kick off at 20:30 GMT.
Spain lacks a national stadium like London's Wembley or the Stade de France in Paris and in a nation gripped by regional and local rivalries the venue of the cup final is often a matter of controversy.
Last year's finalists Barcelona and Athletic Bilbao were angry with Real after they refused to make the Bernabeu available and the game was played at Atletico's Calderon arena.
Local media have reported that this year's final is taking place on Friday to avoid a clash with the Eurovision Song Contest in Malmo, Sweden the following day.