The teams went into the second leg of their semi-final showdown at the Bernabeu locked at 2-2 on aggregate, Los Blancos the favourites to make the most of home advantage.
However, midway through the second half, Alphonso Davies cut inside onto his weaker right foot to unleash a sweet strike into the far bottom corner from 16 yards out.
Davies's goal stunned the home crowd and it appeared that Carlo Ancelotti's side would be exiting the competition at the last-four stage for the second year in a row.
That was until Real produced yet another famous comeback in their storied history, Joselu getting on the scoresheet twice during the latter stages to perform an unlikely turnaround.
How did Joselu make history?When Bayern goalkeeper Manuel Neuer spilled a poorly-delivered cross in the 88th minute, Joselu was on hand to convert from close range to get Real back on level terms.
In the first-minute of nine added on, the former Stoke City man and current Espanyol loanee struck again, finishing at the back post after meeting a low cross from Antonio Rudiger at the back post.
VAR was required to confirm the goal after Joselu was initially adjudged to be in an offside position, but it was soon bedlam in the Bernabeu as they took the lead.
Joselu's double took him to five strikes in this season's Champions League, despite making just two starts and eight substitute appearances.
He is also now the holder of a Champions League record having become the oldest substitute player to score two goals in a knockout fixture.
Will goals help Joselu stay at Real?At the age of 34, Joselu is in the latter stages of his
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