Runners up in 2004 on home soil, Portugal are once again among the main challengers and will be looking to go one step further in Austria and Switzerland.
Despite finishing fourth at the last World Cup, Portugal failed to impress in qualifying for Euro 2008 as they were tested by minnows such as Kazakhstan and Armenia and ended up finishing second in their group behind Poland.
They nevertheless have a strong squad with a solid defence and attacking flair, and are more than capable of raising their game to compete with any of the other European heavyweights.
Portugal kick off their Group A campaign against Turkey before locking horns with Czech Republic and Switzerland, but it would be a big shock if they did not reach the latter stages.
Manager - Luiz Felipe Scolari
A combustible character with a tremendous track record, 'Big Phil' has helped to turn Portugal into one of the most feared teams in international football.
Scolari's greatest success came in 2002 when he guided his native Brazil to World Cup glory, but he left his post soon after to take charge of Portugal - a country with a rich tradition of producing star players but with no great history in major tournaments.
Portugal have become a much more organised outfit under Scolari and the players have displayed a steely determination in reaching the semi-finals or better of the last two competitions that had previously been lacking.
Scolari appeared set to become England coach following the 2006 World Cup after holding talks with the Football Association but he was put off by the media pressure and committed himself to Portugal.
Speculation has again been rife that Scolari could replace Sven Goran Eriksson - this time at Manchester City - but he is not a man who is prepared to disrupt Portugal's preparations and there has there has been no word from him yet on his future.
What is certain is that his focus will be solely on Portugal this summer and he is likely to provide just as much entertainment with his passionate performances on the touchline as his team will on the pitch.
Star man - Cristiano Ronaldo
The squad is bursting with talent and potential match-winners but one player stands head and shoulders above the rest.
Cristiano Ronaldo is arguably the greatest footballer on the planet at the moment and there can be little dispute that he is the best born in Europe.
His header in the final of the UEFA Champions League took his tally for the season to 42 and the Manchester United maestro is hungry to keep his stunning form going through the summer.
Ronaldo has shown glimpses of what he can do at international level in the past but he has improved considerably since the last World Cup and is set to terrorise opponents with his pace, power and precision over the coming weeks.
British interest
There are a number of familiar faces in the Portugal squad including Ronaldo and Nani, who will both be chasing more silverware after helping Manchester United to a domestic and European double.
Paulo Ferreira and Ricardo Carvalho are both hugely experienced and the two Chelsea players have been defensive rocks for their national team in recent years.
Chelsea supporters will also have a chance to study new boy Jose Bosingwa in action at right-back before the £16.2million signing from Porto steps out at Stamford Bridge for the start of the next Premier League season.
Scolari has also included former Tottenham striker Helder Postiga, while rising stars such as Miguel Veloso and Joao Moutinho may be worth looking out for after being linked with some of the top English clubs.
Why they will win
The fact that Portugal's five British-based players are all at either Manchester United or Chelsea speaks volumes for their quality, and in Ronaldo they possess a player who could almost win the competition single-handedly. Portugal's defence is as good as any side's in the competition and Scolari is a tactically astute manager who will be desperate for Euro glory. The nucleus of the squad has remained from four years ago but key players are now reaching their peak. They also have a fairly straightforward group with a possible quarter-final against either Croatia or Poland to follow, meaning they could make it through to the last four before they meet one of the other favourites.
Why they won't
There are only three recognised strikers in the squad, none of whom will give opposing coaches sleepless nights, and despite the presence of Ronaldo Portugal did struggle to break down even modest defences in qualifying. Fatigue could also be a factor with many of the players coming off long, hard seasons, and there is the question of pressure for a country that has never won a major tournament before.
