Dozens of airport staff gathered on the tarmac to cheer on the players as they arrived from France just after midday Monday.
Captain Cristiano Ronaldo and coach Fernando Santos held the cup up to great cheers on stepping out of the plane.
Thousands of people packed the streets around the airport to greet the team, which traveled in an open-topped, double-decker bus to the Belem presidential palace to meet Portuguese President Marcelo Rebelo de Sousa.
They were later to begin a parade through the city.
Portugal beat France 1-0 in extra time on Sunday in the final in Paris.