Long-distance coach
Where the railway gives up, the coach network takes over — and it is usually cheap.
Route guide
Here is the honest answer nobody puts in a headline: there is no direct passenger train between Madrid and Lisbon. The Lusitania night train was suspended and never came back, so your realistic choices are a coach, a flight, or a two-change rail day via Badajoz and Entroncamento.
Where the railway gives up, the coach network takes over — and it is usually cheap.
Slow, cheap, no-frills. Fixed fares, easy to buy on the day.
Compare every operator on this route in one search. Advance fares climb as seats sell.
Because no through train exists, there is no single ticket to buy. Coaches (ALSA, FlixBus, Rede Expressos) sell seats months ahead at fixed low prices; flights follow airline pricing; and the rail itinerary must be booked as separate legs with each operator, which means a missed connection is your own risk. That last point is the real reason most travellers do not take the train here.

7–9 h · from €35
ALSA and FlixBus run day and overnight services. Cheapest by far, and the overnight option saves a hotel night. Border stops are brief.
1 h 20 min in the air · from €40
Fastest on paper. Add two airport transfers and security and the door-to-door figure is closer to four hours — still the quickest option.
10–12 h · from €55
Via Badajoz and Entroncamento, booked as separate legs. A genuine adventure for rail enthusiasts; a bad idea if you have a flight to catch afterwards.
No. The Lusitania night train that once linked the two capitals was suspended and has not returned. Any rail journey today involves at least two changes near the border.
Flying, at roughly 1 h 20 min in the air. Door to door, with transfers and security, budget about four hours.
The long-distance coach, from around €35 when booked ahead. Overnight services also save you a night's accommodation.
Yes — the usual itinerary runs via Badajoz and Entroncamento, booked as separate tickets. Allow a full day, check every connection yourself, and do not plan anything time-critical for that evening.
A high-speed Madrid–Lisbon link is a long-standing plan on both sides of the border, but no service operates today. Treat any announcement as a project, not a timetable.