Italy had won their first Euro title in 1968 and they won their second one when goalkeeper Donnarumma blocked a poor effort by 19-year-old Bukayo Saka of England, after Jorginho had missed the last Italian kick
Although Spain keeper Unai Simon saved the first Italian penalty taken by Manuel Locatelli, Dani Olmo fired over for the Spanish and Alvaro Morata
With this win, the Three Lions have set up a semifinal clash against Denmark at the Wembley Stadium on Wednesday.
With this win, Italy has entered the semi-finals of the tournament. The side will now lock horns against Spain in the semifinals at the Wembley Stadium.
It was Southgate's penalty miss at the old Wembley that denied an England side with Seaman in goal the chance to reach the Euro '96 final.
Substitute Artem Dovbyk stooped low to guide a header from Oleksandr Zinchenko's cross past goalkeeper Robin Olsen.
It was the second-highest scoring game in the history of the European Championship, trailing only Yugoslavia's 5-4 win over France in 1960.
Belgium, which has never before won a major soccer title, will next face Italy on Friday in Munich.
The Dutch caused problems for the Czech initially with their pace on Sunday, but Matthijs de Ligt and Denzel Dumfries lacked accuracy upfront, reports Xinhua.
Belgium defeated Portugal on Sunday to progress to the quarterfinals of the ongoing Euro 2020. During the match, Hazard left in the 85th minute after being taken down by physical challenges several times.
Kesper Dolberg (27th minute, 48th minute), Joakim Maehle (88th) and Martin Braithwaite (90+4th) were the scorers in a contest that became one-sided as the game progressed.
An embarrassing own-goal by goalkeeper Martin Dúbravka in the first half put Spain on its way to a 5-0 victory on Wednesday.
Ronaldo scored the opening goal in the 31st minute after France goalkeeper Hugo Lloris misread a free kick and punched Danilo's face.
It was Sterling's second goal at Euro 2020 and it secured a 1-0 victory over the Czech Republic on Tuesday in a match at Wembley Stadium
The world's top-ranked team beat Finland 2-0 on Monday to finish in first place in Group B and join Italy and the Netherlands in qualifying with maximum points.
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