The squad travelled in an open-top bus to a reception at Belem Palace, the seat of President Marcelo Rebelo de Sousa, before a planned parade through the city.
Water in the Portuguese colours of green and red was fired over the plane as it landed in Lisbon following Sunday evening’s 1-0 extra-time win over hosts France at Saint-Denis.
On board the plane, Cristiano Ronaldo posted pictures to Instagram of the players posing with the trophy.
Portugal’s victory came following a knee injury to Ronaldo who had to be replaced during the first half.
President Rebelo de Sousa had said after the match at the Stade de France: “I had already said that we are the best in Europe. We had to suffer, but we have shown that we can put away setbacks as the injury of Cristiano Ronaldo and united stand together.”
Marcelo, as the president is called by the Portuguese, announced that the players would receive the Order of Merit.