Pepe had given the hosts the lead shortly after the break, when he rose highest to meet Toni Kroos’ pin-point delivery and head beyond Jan Oblak.
Real still have a game in hand and will hope that Malaga can deny Barcelona later on this evening, while Diego Simeone’s side stay third, 10 points behind Real.
Atletico began brightly and a dangerous free-kick from out wide, narrowly missed the head of Fernando Torres, flashing just wide of the post much to the relief of Kaylor Navas.
The fabled front three of Real were having little impact on the action, but that would soon change, as Cristiano Ronaldo – who hit a brilliant hat-trick in the reverse fixture back in November – showed quick feet and his snap shot was pushed behind by Oblak.
Moments later, it was Ronaldo who turned provider in search of the breakthrough, his clever back-flick following a one-two with Karim Benzema, fell kindly into the feet of the Frenchman, but he could only shoot straight at Oblak.
A mixed showing from Luka Modric in midfield saw a number of wayward shots and loose passing, but the former Spurs man showed great vision to find Ronaldo with the outside of his boot, but the latter was denied the opener when Stefan Savic headed his strike off the line.
With the home-side looking more assured after a slow start, Sergio Ramos was far too relaxed with his back pass, which was straight into the path of Griezmann, but his stinging low shot was saved by Navas who spared his captain’s blushes.
Atletico had won the last three clashes between these sides at the Bernabeu and went into the break confident of making it four following a solid opening 45 minutes.
However, Zinedine Zidane’s men came out of the blocks the quicker and could have had two goals within a matter of minutes. First, Ronaldo could only watch as his header flashed wide of the post before his knock-down found Benzema, who was again denied by Oblak.
The deadlock was soon broken when German midfielder Kroos whipped in a fine free-kick, which sailed over the Atletico defence and onto the head of Pepe, who powered in his second goal of the campaign.
It was the same combination that would link up again moments later, but for the wrong reasons, as Kroos accidentally clattered into the goal-scorer, who went down clutching his ribs and was unable to continue.
Carrasco, who had been dangerous for most of the game, found the feet of Torres, but the former Chelsea striker was denied by the on-rushing Navas, who had little to do until that point.
With the clock ticking down, substitute Angel Correa played a magnificent pass straight through the Real defence and Griezmann was the right man in the right place to slot beyond the despairing Navas and land a huge blow to Real Madrid and their hopes of a first title since 2012.
