The draw which took place in Nyon Switzerlandon Friday sees a repeat of last year’s final.
French side and surprise package, Monaco will face Italian club Juventus in the other last-four tie.
The first legs will be played on 2 and 3 May, with the return legs taking place the following week.
The Final will take place 3 June in Cardiff, England.
Zinedine Zidane’s side who are the favourites, could become the first club to retain the trophy in the Champions League era and a record 12th title.
Real, beat German champions Bayern Munich 6-3 on aggregate to reach the last four.
Atletico, ended Leicester’s fairytale run in Europe, to beat the Foxes 2-1 over two legs.
Juventus were too strong for Barcelona as they sent the Catalans packing with an impressive 3-0 aggregate win, while Monaco defeated Borussia Dortmund 6-3 on aggregate.
Ifeanyi Omokwe
Defending Champions, Real Madrid have been drawn against rivals Atletico Madrid in the semi-finals of the UEFA Champions League.
The draw which took place in Nyon Switzerlandon Friday sees a repeat of last year’s final.
French side and surprise package, Monaco will face Italian club Juventus in the other last-four tie.
The first legs will be played on 2 and 3 May, with the return legs taking place the following week.
The Final will take place 3 June in Cardiff, England.
Zinedine Zidane’s side who are the favourites, could become the first club to retain the trophy in the Champions League era and a record 12th title.
Real, beat German champions Bayern Munich 6-3 on aggregate to reach the last four.
Atletico, ended Leicester’s fairytale run in Europe, to beat the Foxes 2-1 over two legs.
Juventus were too strong for Barcelona as they sent the Catalans packing with an impressive 3-0 aggregate win, while Monaco defeated Borussia Dortmund 6-3 on aggregate.