But this year's edition is set to be even more special as it marks 40 years since Madrid's first authorised LGBT demonstration was organised by the Homosexual Liberation Front of Castilla (FLHOC)
Running from June 28th to July 7th, Madrid Orgullo will host such spectacular events as the Mr Gay Pride competition, a series of huge club nights and the fabled Carrera de Tacones (stiletto race).
Be sure to make the most of this year's celebration with The Local's picks of the best events on offer:
The Weather Girls, Puerta de Alcalá, June 30th 10.45pm
There's a multitude of live concerts on offer at Pride, but the ‘It's Raining Men' icons are always a firm favourite.
Stiletto Race - Calle Pelayo, July 5th 6pm
An institution at Madrid Pride, the Carrera de Tacones pits high-heeled sprinters against each other as they hurtle down Chueca's Calle Pelayo. There's often a cash prize for one skilled athlete.
Muestra•T Cinema - June 30th-July 8th, various locations
Muestra•T, the cultural arm of this year's Pride, will screen LGBT themed films in unique venues such as the Museo Reina Sofia and the Matadero, a former slaughterhouse turned cultural space on the bank of the river...
WE Pride Festival, July 4th-8th
Ensuring the party continues into the early hours, WE Pride throws seven parties over five days in both indoor and outdoor venues across Madrid.
Tanned and oiled hopefuls battle it out for the prestigious title in the 11th Mr Gay Pride España. This year's event takes place at Puerta del Sol and will include a performance from Cyprus' 2018 Eurovision entry Eleni Foureira.
Parade - July 7th, 5.30pm - late
People from all over Madrid, Spain and the rest of the world throw a huge party in the streets as they march from Atocha station to the Plaza de Colón for the grand finale of Madrid Pride.
For details of what's on, where and when check out the official website.