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    <link:label id="lab_tef_FlujosDeEfectivoDeLasOperaciones_label_es" xlink:label="lab_tef_FlujosDeEfectivoDeLasOperaciones" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Flujos de efectivo de las operaciones</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DeferredTaxAssets" xlink:to="lab_ifrs-full_DeferredTaxAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions_1b27f3a0-d7ad-4275-b42d-c87ed8868946_terseLabel_es" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Incremento (decremento) por transacciones con acciones propias, patrimonio neto</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_StatementOfChangesInEquityTable" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_StatementOfChangesInEquityTable"/>
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    <link:label id="lab_ifrs-full_BasicAndDilutedEarningsLossPerShare_cc237cce-0c9b-43e7-b70e-748abb25037b_terseLabel_es" xlink:label="lab_ifrs-full_BasicAndDilutedEarningsLossPerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias (pérdidas) por acción básicas y diluidas</link:label>
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    <link:label id="lab_tef_FlujosDeEfectivoUtilizadosEnOperaciones_bf0961d9-a4d8-4a51-b3ee-64f9adf943ea_terseLabel_es" xlink:label="lab_tef_FlujosDeEfectivoUtilizadosEnOperaciones" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Flujos de efectivo utilizados en operaciones</link:label>
    <link:label id="lab_tef_FlujosDeEfectivoUtilizadosEnOperaciones_label_es" xlink:label="lab_tef_FlujosDeEfectivoUtilizadosEnOperaciones" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Flujos de efectivo utilizados en operaciones</link:label>
    <link:label id="lab_tef_FlujosDeEfectivoUtilizadosEnOperaciones_documentation_es" xlink:label="lab_tef_FlujosDeEfectivoUtilizadosEnOperaciones" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cash paid from operations</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_FlujosDeEfectivoUtilizadosEnOperaciones" xlink:to="lab_tef_FlujosDeEfectivoUtilizadosEnOperaciones" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome_256557d9-799e-4260-8667-967e407e3f72_terseLabel_es" xlink:label="lab_ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Impuesto sobre las ganancias relativo al recálculo de la valoración de los planes de prestaciones definidas incluido en otro resultado global</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome"/>
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    <link:label id="lab_ifrs-full_RepaymentsOfBondsNotesAndDebentures_202b8fbb-4253-4ef8-9102-d2bc3bf50839_terseLabel_es" xlink:label="lab_ifrs-full_RepaymentsOfBondsNotesAndDebentures" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Reembolsos de obligaciones con y sin garantía y pagarés</link:label>
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    <link:label id="lab_ifrs-full_ProceedsFromGovernmentGrantsClassifiedAsInvestingActivities_64233e2e-93e3-410c-aaf7-d7a7fcbe6350_verboseLabel_es" xlink:label="lab_ifrs-full_ProceedsFromGovernmentGrantsClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cobros procedentes de subvenciones oficiales, clasificados como actividades de inversión</link:label>
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    <link:label id="lab_ifrs-full_Assets_f584da95-146a-4480-ad81-7e10d25275e0_totalLabel_es" xlink:label="lab_ifrs-full_Assets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Total activos</link:label>
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    <link:label id="lab_ifrs-full_DividendsPaid_8d3c0860-3da9-492f-b210-aea21e82c652_terseLabel_es" xlink:label="lab_ifrs-full_DividendsPaid" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Dividendos reconocidos como distribuciones a los propietarios</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DividendsPaid" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DividendsPaid"/>
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    <link:label id="lab_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_d691c342-47c2-4fc3-ab19-3373f219a671_terseLabel_es" xlink:label="lab_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Flujos de efectivo utilizados en la obtención de control de dependientes u otros negocios, clasificados como actividades de inversión</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities"/>
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    <link:label id="lab_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeLaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros_97457cbe-5781-46b6-923a-fe3b1b7c8ece_terseLabel_es" xlink:label="lab_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeLaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Impuesto sobre la renta relacionado con la reclasificacion de la participacion en las ganancias (perdidas) reconocidas directamente en el patrimonio de asociadas y otros</link:label>
    <link:label id="lab_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeLaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros_label_es" xlink:label="lab_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeLaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Impuesto sobre la renta relacionado con la reclasificacion de la participacion en las ganancias (perdidas) reconocidas directamente en el patrimonio de asociadas y otros</link:label>
    <link:label id="lab_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeLaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros_documentation_es" xlink:label="lab_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeLaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Impuesto sobre la renta relacionado con la reclasificacion de la participacion en las ganancias (perdidas) reconocidas directamente en el patrimonio de asociadas y otros</link:label>
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    <link:label id="lab_ifrs-full_ProfitLossAttributableToNoncontrollingInterests_0772d4e4-7544-4c94-9f1a-6b70bede24a4_terseLabel_es" xlink:label="lab_ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancia (pérdida), atribuible a participaciones no dominantes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLossAttributableToNoncontrollingInterests"/>
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    <link:label id="lab_ifrs-full_OtherIncome_85c63c81-9f32-4f5d-9464-cda822ab5f60_terseLabel_es" xlink:label="lab_ifrs-full_OtherIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros ingresos</link:label>
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    <link:label id="lab_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_942b0cbf-d4dd-4fe9-9564-633b5efe80fe_terseLabel_es" xlink:label="lab_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efecto de las variaciones del tipo de cambio en el efectivo y equivalentes al efectivo</link:label>
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    <link:label id="lab_ifrs-full_NetForeignExchangeGain_1ee7981a-670d-4786-afa9-f5e4b30d3128_terseLabel_es" xlink:label="lab_ifrs-full_NetForeignExchangeGain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancia neta por diferencias de cambio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NetForeignExchangeGain" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NetForeignExchangeGain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NetForeignExchangeGain" xlink:to="lab_ifrs-full_NetForeignExchangeGain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ComponentsOfEquityAxis_12216b06-eec6-4df5-9a12-8e80ae11f290_terseLabel_es" xlink:label="lab_ifrs-full_ComponentsOfEquityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Componentes del patrimonio neto [eje]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ComponentsOfEquityAxis" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ComponentsOfEquityAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ComponentsOfEquityAxis" xlink:to="lab_ifrs-full_ComponentsOfEquityAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_GananciaPerdidaDeActividadesOperativasAntesDeDepreciacionYAmortizacion_2a159805-b8bd-470f-88d4-704e0f0e9da2_totalLabel_es" xlink:label="lab_tef_GananciaPerdidaDeActividadesOperativasAntesDeDepreciacionYAmortizacion" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancia (pérdida) de actividades operativas antes de depreciación y amortización</link:label>
    <link:label id="lab_tef_GananciaPerdidaDeActividadesOperativasAntesDeDepreciacionYAmortizacion_label_es" xlink:label="lab_tef_GananciaPerdidaDeActividadesOperativasAntesDeDepreciacionYAmortizacion" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancia (perdida) de actividades operativas antes de depreciacion y amortizacion</link:label>
    <link:label id="lab_tef_GananciaPerdidaDeActividadesOperativasAntesDeDepreciacionYAmortizacion_documentation_es" xlink:label="lab_tef_GananciaPerdidaDeActividadesOperativasAntesDeDepreciacionYAmortizacion" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancia (perdida) de actividades operativas antes de depreciacion y amortizacion</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_GananciaPerdidaDeActividadesOperativasAntesDeDepreciacionYAmortizacion" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_GananciaPerdidaDeActividadesOperativasAntesDeDepreciacionYAmortizacion"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_GananciaPerdidaDeActividadesOperativasAntesDeDepreciacionYAmortizacion" xlink:to="lab_tef_GananciaPerdidaDeActividadesOperativasAntesDeDepreciacionYAmortizacion" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EarningsPerShareAbstract_ddc3b1cf-6336-472f-9d4a-6acab21c7e66_terseLabel_es" xlink:label="lab_ifrs-full_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias por acción [resumen]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EarningsPerShareAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EarningsPerShareAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EarningsPerShareAbstract" xlink:to="lab_ifrs-full_EarningsPerShareAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents_c798d536-d795-4dea-97cd-c4a5e6605031_terseLabel_es" xlink:label="lab_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Incremento (decremento) en efectivo y equivalentes al efectivo</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:to="lab_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeGananciasPerdidasEnLaCoberturaDeFlujoDeEfectivo_74230e42-3aba-4324-8701-5a6b85dbfd39_terseLabel_es" xlink:label="lab_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeGananciasPerdidasEnLaCoberturaDeFlujoDeEfectivo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Impuesto sobre la renta relacionado con la reclasificación de ganancias (pérdidas) en la cobertura de flujo de efectivo</link:label>
    <link:label id="lab_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeGananciasPerdidasEnLaCoberturaDeFlujoDeEfectivo_label_es" xlink:label="lab_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeGananciasPerdidasEnLaCoberturaDeFlujoDeEfectivo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Impuesto sobre la renta relacionado con la reclasificacion de ganancias (perdidas) en la cobertura de flujo de efectivo</link:label>
    <link:label id="lab_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeGananciasPerdidasEnLaCoberturaDeFlujoDeEfectivo_documentation_es" xlink:label="lab_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeGananciasPerdidasEnLaCoberturaDeFlujoDeEfectivo" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Impuesto sobre la renta relacionado con la reclasificacion de ganancias (perdidas) en la cobertura de flujo de efectivo</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeGananciasPerdidasEnLaCoberturaDeFlujoDeEfectivo" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeGananciasPerdidasEnLaCoberturaDeFlujoDeEfectivo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeGananciasPerdidasEnLaCoberturaDeFlujoDeEfectivo" xlink:to="lab_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeGananciasPerdidasEnLaCoberturaDeFlujoDeEfectivo" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NoncontrollingInterests_cc66784d-13fd-42a6-8a8f-c741fd127693_terseLabel_es" xlink:label="lab_ifrs-full_NoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Participaciones no dominantes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncontrollingInterests" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncontrollingInterests"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncontrollingInterests" xlink:to="lab_ifrs-full_NoncontrollingInterests" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember_a283dd09-37e3-4600-90b4-de099e71df8b_terseLabel_es" xlink:label="lab_ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Reserva de diferencias de cambio en la conversión [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:to="lab_ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsBeforeTax_adadd11b-b55d-4280-a30d-97f439a1a952_terseLabel_es" xlink:label="lab_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ajustes por reclasificación relativos a activos financieros disponibles para la venta, antes de impuestos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsBeforeTax" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsBeforeTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsBeforeTax" xlink:to="lab_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsBeforeTax" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ReserveOfGainsAndLossesOnRemeasuringAvailableforsaleFinancialAssetsMember_133551e6-5755-4191-86c6-7d1dc75d706a_terseLabel_es" xlink:label="lab_ifrs-full_ReserveOfGainsAndLossesOnRemeasuringAvailableforsaleFinancialAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Reserva de ganancias y pérdidas por recálculo de la valoración de activos financieros disponibles para la venta [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ReserveOfGainsAndLossesOnRemeasuringAvailableforsaleFinancialAssetsMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReserveOfGainsAndLossesOnRemeasuringAvailableforsaleFinancialAssetsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReserveOfGainsAndLossesOnRemeasuringAvailableforsaleFinancialAssetsMember" xlink:to="lab_ifrs-full_ReserveOfGainsAndLossesOnRemeasuringAvailableforsaleFinancialAssetsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NoncurrentFinancialLiabilities_4ccfb15b-6411-4ebe-8851-b460a6774cd9_terseLabel_es" xlink:label="lab_ifrs-full_NoncurrentFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pasivos financieros no corrientes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentFinancialLiabilities" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentFinancialLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncurrentFinancialLiabilities" xlink:to="lab_ifrs-full_NoncurrentFinancialLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries_aadb5643-c700-43a5-8bef-32206492e2fe_terseLabel_es" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Incremento (decremento) por variaciones en el patrimonio neto de dependientes, patrimonio neto</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" xlink:to="lab_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_StatutoryReserveMember_97416fc6-ed7f-4b0c-b928-375a8f66bb9f_terseLabel_es" xlink:label="lab_ifrs-full_StatutoryReserveMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Reserva reglamentaria [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_StatutoryReserveMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_StatutoryReserveMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_StatutoryReserveMember" xlink:to="lab_ifrs-full_StatutoryReserveMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NoncurrentLiabilities_50442810-d55b-4a4a-a343-4993fd38a352_totalLabel_es" xlink:label="lab_ifrs-full_NoncurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Total pasivos no corrientes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentLiabilities" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncurrentLiabilities" xlink:to="lab_ifrs-full_NoncurrentLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_CuentasAPagarYOtrosPasivosCorrientes_7f379138-5b86-494e-9f13-8ba83f6fb35b_terseLabel_es" xlink:label="lab_tef_CuentasAPagarYOtrosPasivosCorrientes" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cuentas a pagar y otros pasivos corrientes</link:label>
    <link:label id="lab_tef_CuentasAPagarYOtrosPasivosCorrientes_label_es" xlink:label="lab_tef_CuentasAPagarYOtrosPasivosCorrientes" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cuentas a pagar y otros pasivos corrientes</link:label>
    <link:label id="lab_tef_CuentasAPagarYOtrosPasivosCorrientes_documentation_es" xlink:label="lab_tef_CuentasAPagarYOtrosPasivosCorrientes" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Payables and other current liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CuentasAPagarYOtrosPasivosCorrientes" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_CuentasAPagarYOtrosPasivosCorrientes"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_CuentasAPagarYOtrosPasivosCorrientes" xlink:to="lab_tef_CuentasAPagarYOtrosPasivosCorrientes" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax_be51c1d0-ecdc-40c5-b83c-144490419922_terseLabel_es" xlink:label="lab_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ajustes por reclasificación relativos a coberturas de flujos de efectivo, antes de impuestos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:to="lab_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_EfectoImpositivoSobreLasGananciasPerdidasProcedentesDeCobertura_51f0cc4a-b278-44b8-b3e5-d15cac7d27b0_terseLabel_es" xlink:label="lab_tef_EfectoImpositivoSobreLasGananciasPerdidasProcedentesDeCobertura" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efecto impositivo sobre las ganancias (perdidas) procedentes de cobertura</link:label>
    <link:label id="lab_tef_EfectoImpositivoSobreLasGananciasPerdidasProcedentesDeCobertura_label_es" xlink:label="lab_tef_EfectoImpositivoSobreLasGananciasPerdidasProcedentesDeCobertura" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efecto impositivo sobre las ganancias (perdidas) procedentes de cobertura</link:label>
    <link:label id="lab_tef_EfectoImpositivoSobreLasGananciasPerdidasProcedentesDeCobertura_documentation_es" xlink:label="lab_tef_EfectoImpositivoSobreLasGananciasPerdidasProcedentesDeCobertura" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efecto impositivo sobre las ganancias (perdidas) procedentes de cobertura</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_EfectoImpositivoSobreLasGananciasPerdidasProcedentesDeCobertura" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_EfectoImpositivoSobreLasGananciasPerdidasProcedentesDeCobertura"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_EfectoImpositivoSobreLasGananciasPerdidasProcedentesDeCobertura" xlink:to="lab_tef_EfectoImpositivoSobreLasGananciasPerdidasProcedentesDeCobertura" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ImpuestoSobreLaRentaRelativoALaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros_8cd1d2ad-41b3-46af-a40f-a820a45431f6_terseLabel_es" xlink:label="lab_tef_ImpuestoSobreLaRentaRelativoALaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Impuesto sobre la renta relativo a la participación en las ganancias (pérdidas) reconocidas directamente en el patrimonio de asociadas y otros</link:label>
    <link:label id="lab_tef_ImpuestoSobreLaRentaRelativoALaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros_label_es" xlink:label="lab_tef_ImpuestoSobreLaRentaRelativoALaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Impuesto sobre la renta relativo a la participacion en las ganancias (perdidas) reconocidas directamente en el patrimonio de asociadas y otros</link:label>
    <link:label id="lab_tef_ImpuestoSobreLaRentaRelativoALaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros_documentation_es" xlink:label="lab_tef_ImpuestoSobreLaRentaRelativoALaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Impuesto sobre la renta relativo a la participacion en las ganancias (perdidas) reconocidas directamente en el patrimonio de asociadas y otros</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ImpuestoSobreLaRentaRelativoALaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_ImpuestoSobreLaRentaRelativoALaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ImpuestoSobreLaRentaRelativoALaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros" xlink:to="lab_tef_ImpuestoSobreLaRentaRelativoALaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentLeaseLiabilities_c5d727d8-52d6-4fe1-a5a4-b32ca33d2587_terseLabel_es" xlink:label="lab_ifrs-full_CurrentLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pasivos corrientes por arrendamientos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentLeaseLiabilities" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentLeaseLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentLeaseLiabilities" xlink:to="lab_ifrs-full_CurrentLeaseLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_EfectoDeLosCambiosEnLosMetodosDeConsolidacionYOtrosSobreElEfectivoYEquivalentes_71a6b0d9-e2ac-474e-bf3b-3660d46d1f8e_terseLabel_es" xlink:label="lab_tef_EfectoDeLosCambiosEnLosMetodosDeConsolidacionYOtrosSobreElEfectivoYEquivalentes" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efecto de los cambios en los métodos de consolidación y otros sobre el efectivo y equivalentes</link:label>
    <link:label id="lab_tef_EfectoDeLosCambiosEnLosMetodosDeConsolidacionYOtrosSobreElEfectivoYEquivalentes_label_es" xlink:label="lab_tef_EfectoDeLosCambiosEnLosMetodosDeConsolidacionYOtrosSobreElEfectivoYEquivalentes" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efecto de los cambios en los metodos de consolidacion y otros sobre el efectivo y equivalentes</link:label>
    <link:label id="lab_tef_EfectoDeLosCambiosEnLosMetodosDeConsolidacionYOtrosSobreElEfectivoYEquivalentes_documentation_es" xlink:label="lab_tef_EfectoDeLosCambiosEnLosMetodosDeConsolidacionYOtrosSobreElEfectivoYEquivalentes" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efecto de los cambios en los metodos de consolidacion y otros sobre el efectivo y equivalentes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_EfectoDeLosCambiosEnLosMetodosDeConsolidacionYOtrosSobreElEfectivoYEquivalentes" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_EfectoDeLosCambiosEnLosMetodosDeConsolidacionYOtrosSobreElEfectivoYEquivalentes"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_EfectoDeLosCambiosEnLosMetodosDeConsolidacionYOtrosSobreElEfectivoYEquivalentes" xlink:to="lab_tef_EfectoDeLosCambiosEnLosMetodosDeConsolidacionYOtrosSobreElEfectivoYEquivalentes" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherEquityInterestMember_973fcfba-fcf0-48f8-8869-1006283b93b7_terseLabel_es" xlink:label="lab_ifrs-full_OtherEquityInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otras participaciones en el patrimonio [miembro]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherEquityInterestMember" xlink:to="lab_ifrs-full_OtherEquityInterestMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities_363222cf-36a4-4445-a50f-2499aad6bbdd_verboseLabel_es" xlink:label="lab_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cobros procedentes de los préstamos tomados, clasificados como actividades de financiación</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:to="lab_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PerdidasGananciasActuarialesYEfectoDelLimiteDelActivoPorPlanesDePrestacionDefinida_405ead72-b904-4f3c-8f8a-3adc60216d36_terseLabel_es" xlink:label="lab_tef_PerdidasGananciasActuarialesYEfectoDelLimiteDelActivoPorPlanesDePrestacionDefinida" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">(Perdidas) ganancias actuariales y efecto del limite del activo por planes de prestacion definida</link:label>
    <link:label id="lab_tef_PerdidasGananciasActuarialesYEfectoDelLimiteDelActivoPorPlanesDePrestacionDefinida_label_es" xlink:label="lab_tef_PerdidasGananciasActuarialesYEfectoDelLimiteDelActivoPorPlanesDePrestacionDefinida" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">(Perdidas) ganancias actuariales y efecto del limite del activo por planes de prestacion definida</link:label>
    <link:label id="lab_tef_PerdidasGananciasActuarialesYEfectoDelLimiteDelActivoPorPlanesDePrestacionDefinida_documentation_es" xlink:label="lab_tef_PerdidasGananciasActuarialesYEfectoDelLimiteDelActivoPorPlanesDePrestacionDefinida" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">(Perdidas) ganancias actuariales y efecto del limite del activo por planes de prestacion definida</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PerdidasGananciasActuarialesYEfectoDelLimiteDelActivoPorPlanesDePrestacionDefinida" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_PerdidasGananciasActuarialesYEfectoDelLimiteDelActivoPorPlanesDePrestacionDefinida"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PerdidasGananciasActuarialesYEfectoDelLimiteDelActivoPorPlanesDePrestacionDefinida" xlink:to="lab_tef_PerdidasGananciasActuarialesYEfectoDelLimiteDelActivoPorPlanesDePrestacionDefinida" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_GastoFinancieroNeto_c0996e14-ddab-4354-b14c-84baff122f3a_totalLabel_es" xlink:label="lab_tef_GastoFinancieroNeto" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Gasto financiero neto</link:label>
    <link:label id="lab_tef_GastoFinancieroNeto_label_es" xlink:label="lab_tef_GastoFinancieroNeto" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Gasto financiero neto</link:label>
    <link:label id="lab_tef_GastoFinancieroNeto_documentation_es" xlink:label="lab_tef_GastoFinancieroNeto" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Gasto financiero neto</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_GastoFinancieroNeto" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_GastoFinancieroNeto"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_GastoFinancieroNeto" xlink:to="lab_tef_GastoFinancieroNeto" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NoncontrollingInterestsMember_73d61a2d-9dee-4374-802a-a2e001cca2de_terseLabel_es" xlink:label="lab_ifrs-full_NoncontrollingInterestsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Participaciones no dominantes [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncontrollingInterestsMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncontrollingInterestsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncontrollingInterestsMember" xlink:to="lab_ifrs-full_NoncontrollingInterestsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PagosPorInversionesFinancierasNoIncluidasEnEquivalentesDeEfectivo_2c61ce93-c50a-47be-a14e-51f9813b6624_terseLabel_es" xlink:label="lab_tef_PagosPorInversionesFinancierasNoIncluidasEnEquivalentesDeEfectivo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pagos por inversiones financieras no incluidas en equivalentes de efectivo</link:label>
    <link:label id="lab_tef_PagosPorInversionesFinancierasNoIncluidasEnEquivalentesDeEfectivo_label_es" xlink:label="lab_tef_PagosPorInversionesFinancierasNoIncluidasEnEquivalentesDeEfectivo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pagos por inversiones financieras no incluidas en equivalentes de efectivo</link:label>
    <link:label id="lab_tef_PagosPorInversionesFinancierasNoIncluidasEnEquivalentesDeEfectivo_documentation_es" xlink:label="lab_tef_PagosPorInversionesFinancierasNoIncluidasEnEquivalentesDeEfectivo" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pagos por inversiones financieras no incluidas en equivalentes de efectivo</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PagosPorInversionesFinancierasNoIncluidasEnEquivalentesDeEfectivo" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_PagosPorInversionesFinancierasNoIncluidasEnEquivalentesDeEfectivo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PagosPorInversionesFinancierasNoIncluidasEnEquivalentesDeEfectivo" xlink:to="lab_tef_PagosPorInversionesFinancierasNoIncluidasEnEquivalentesDeEfectivo" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_98f5f205-9762-49be-83ae-7b445b69cb97_terseLabel_es" xlink:label="lab_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Flujos de efectivo procedentes de (utilizados en) actividades de explotación [resumen]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="lab_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeGananciasPerdidasSobreCostosDeCoberturaDeFlujosDeEfectivo_bc2ad634-c8b4-4ce1-ae94-2d0c8ea810ef_terseLabel_es" xlink:label="lab_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeGananciasPerdidasSobreCostosDeCoberturaDeFlujosDeEfectivo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Impuesto sobre la renta relacionado con la reclasificación de ganancias (pérdidas) sobre costos de cobertura de flujos de efectivo</link:label>
    <link:label id="lab_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeGananciasPerdidasSobreCostosDeCoberturaDeFlujosDeEfectivo_label_es" xlink:label="lab_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeGananciasPerdidasSobreCostosDeCoberturaDeFlujosDeEfectivo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Impuesto sobre la renta relacionado con la reclasificacion de ganancias (perdidas) sobre costos de cobertura de flujos de efectivo</link:label>
    <link:label id="lab_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeGananciasPerdidasSobreCostosDeCoberturaDeFlujosDeEfectivo_documentation_es" xlink:label="lab_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeGananciasPerdidasSobreCostosDeCoberturaDeFlujosDeEfectivo" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Impuesto sobre la renta relacionado con la reclasificacion de ganancias (perdidas) sobre costos de cobertura de flujos de efectivo</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeGananciasPerdidasSobreCostosDeCoberturaDeFlujosDeEfectivo" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeGananciasPerdidasSobreCostosDeCoberturaDeFlujosDeEfectivo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeGananciasPerdidasSobreCostosDeCoberturaDeFlujosDeEfectivo" xlink:to="lab_tef_ImpuestoSobreLaRentaRelacionadoConLaReclasificacionDeGananciasPerdidasSobreCostosDeCoberturaDeFlujosDeEfectivo" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EquityAndLiabilitiesAbstract_467a3fc7-0a19-40af-a323-155018c65110_terseLabel_es" xlink:label="lab_ifrs-full_EquityAndLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Patrimonio neto y pasivo [resumen]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EquityAndLiabilitiesAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EquityAndLiabilitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EquityAndLiabilitiesAbstract" xlink:to="lab_ifrs-full_EquityAndLiabilitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_LiabilitiesAbstract_f6722c41-917f-4d54-a33f-fcd0026b6ca1_terseLabel_es" xlink:label="lab_ifrs-full_LiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pasivos [resumen]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LiabilitiesAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_LiabilitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LiabilitiesAbstract" xlink:to="lab_ifrs-full_LiabilitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_SharePremiumMember_839df84c-72d6-4f77-95ae-bec8cc6e47e5_terseLabel_es" xlink:label="lab_ifrs-full_SharePremiumMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Prima de emisión [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_SharePremiumMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_SharePremiumMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_SharePremiumMember" xlink:to="lab_ifrs-full_SharePremiumMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ComprehensiveIncomeAttributableToAbstract_fbfdf90c-958e-4ddf-ae18-023c8484924b_terseLabel_es" xlink:label="lab_ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Resultado global atribuible a [resumen]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ComprehensiveIncomeAttributableToAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:to="lab_ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentFinancialLiabilities_6a51bfd3-c802-45ee-a50c-c1b4314ac7a2_terseLabel_es" xlink:label="lab_ifrs-full_CurrentFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pasivos financieros corrientes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentFinancialLiabilities" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentFinancialLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentFinancialLiabilities" xlink:to="lab_ifrs-full_CurrentFinancialLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalentsAbstract_ffbbfc71-e48f-4a4d-815a-68faac2b1d8b_terseLabel_es" xlink:label="lab_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalentsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efecto de las variaciones del tipo de cambio en el efectivo y equivalentes al efectivo [resumen]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalentsAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalentsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalentsAbstract" xlink:to="lab_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalentsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RetainedEarningsMember_883c692e-9e08-4f38-b022-fcc8c69b3d40_terseLabel_es" xlink:label="lab_ifrs-full_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Reservas por ganancias acumuladas [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RetainedEarningsMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RetainedEarningsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RetainedEarningsMember" xlink:to="lab_ifrs-full_RetainedEarningsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges_9022734b-4e4c-4c3c-9b63-8fab10430be9_totalLabel_es" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Total otro resultado global, neto de impuestos, coberturas de flujos de efectivo</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Inventories_8a273c66-79d6-4403-9fb9-99366695dc7e_terseLabel_es" xlink:label="lab_ifrs-full_Inventories" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Existencias corrientes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Inventories" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Inventories"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Inventories" xlink:to="lab_ifrs-full_Inventories" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AssetsAbstract_1ff444e9-56d5-48b8-b386-4045aded62af_terseLabel_es" xlink:label="lab_ifrs-full_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos [resumen]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AssetsAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AssetsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AssetsAbstract" xlink:to="lab_ifrs-full_AssetsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CountryOfIncorporation_364ec971-f8d1-4c81-bbde-826cff0f6f37_terseLabel_es" xlink:label="lab_ifrs-full_CountryOfIncorporation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">País de constitución</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CountryOfIncorporation" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CountryOfIncorporation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CountryOfIncorporation" xlink:to="lab_ifrs-full_CountryOfIncorporation" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners_7bc1ae6e-7d29-46d6-8fcd-75e323f163e6_terseLabel_es" xlink:label="lab_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos no corrientes o grupos enajenables de elementos clasificados como mantenidos para la venta o para su distribución a los propietarios</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:to="lab_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_AjustesPorReclasificacionDeLosCostosDeCoberturaDeFlujosDeEfectivoAntesDeImpuestos_fb204ad7-52bb-4875-b596-af270fabd56a_terseLabel_es" xlink:label="lab_tef_AjustesPorReclasificacionDeLosCostosDeCoberturaDeFlujosDeEfectivoAntesDeImpuestos" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ajustes por reclasificación de los costos de cobertura de flujos de efectivo, antes de impuestos</link:label>
    <link:label id="lab_tef_AjustesPorReclasificacionDeLosCostosDeCoberturaDeFlujosDeEfectivoAntesDeImpuestos_label_es" xlink:label="lab_tef_AjustesPorReclasificacionDeLosCostosDeCoberturaDeFlujosDeEfectivoAntesDeImpuestos" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ajustes por reclasificacion de los costos de cobertura de flujos de efectivo, antes de impuestos</link:label>
    <link:label id="lab_tef_AjustesPorReclasificacionDeLosCostosDeCoberturaDeFlujosDeEfectivoAntesDeImpuestos_documentation_es" xlink:label="lab_tef_AjustesPorReclasificacionDeLosCostosDeCoberturaDeFlujosDeEfectivoAntesDeImpuestos" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ajustes por reclasificacion de los costos de cobertura de flujos de efectivo, antes de impuestos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_AjustesPorReclasificacionDeLosCostosDeCoberturaDeFlujosDeEfectivoAntesDeImpuestos" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_AjustesPorReclasificacionDeLosCostosDeCoberturaDeFlujosDeEfectivoAntesDeImpuestos"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_AjustesPorReclasificacionDeLosCostosDeCoberturaDeFlujosDeEfectivoAntesDeImpuestos" xlink:to="lab_tef_AjustesPorReclasificacionDeLosCostosDeCoberturaDeFlujosDeEfectivoAntesDeImpuestos" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_AjusteEnLaAplicacionInicialDeNuevasNormasContables_5f8b2414-25ba-4e5b-a7bb-20aabb5cd1ec_terseLabel_es" xlink:label="lab_tef_AjusteEnLaAplicacionInicialDeNuevasNormasContables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ajuste en la aplicacion inicial de nuevas normas contables</link:label>
    <link:label id="lab_tef_AjusteEnLaAplicacionInicialDeNuevasNormasContables_label_es" xlink:label="lab_tef_AjusteEnLaAplicacionInicialDeNuevasNormasContables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ajuste en la aplicacion inicial de nuevas normas contables</link:label>
    <link:label id="lab_tef_AjusteEnLaAplicacionInicialDeNuevasNormasContables_documentation_es" xlink:label="lab_tef_AjusteEnLaAplicacionInicialDeNuevasNormasContables" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ajuste en la aplicacion inicial de nuevas normas contables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_AjusteEnLaAplicacionInicialDeNuevasNormasContables" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_AjusteEnLaAplicacionInicialDeNuevasNormasContables"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_AjusteEnLaAplicacionInicialDeNuevasNormasContables" xlink:to="lab_tef_AjusteEnLaAplicacionInicialDeNuevasNormasContables" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity_44aca014-5e46-4f19-9d83-c379a97b7480_terseLabel_es" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Incremento (decremento) por otros cambios, patrimonio neto</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity" xlink:to="lab_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncomeTaxExpenseContinuingOperations_aa510920-402c-42bf-b638-36b51021d967_terseLabel_es" xlink:label="lab_ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Gasto (ingreso) por impuestos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:to="lab_ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NoncurrentLiabilitiesAbstract_a2a0fc27-0e40-46b7-af18-c5fdb0938078_terseLabel_es" xlink:label="lab_ifrs-full_NoncurrentLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pasivos no corrientes [resumen]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentLiabilitiesAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentLiabilitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncurrentLiabilitiesAbstract" xlink:to="lab_ifrs-full_NoncurrentLiabilitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProfitLossAbstract_99140ca2-223b-48eb-9d39-1cde917e76e8_terseLabel_es" xlink:label="lab_ifrs-full_ProfitLossAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancia (pérdida) [resumen]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLossAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLossAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLossAbstract" xlink:to="lab_ifrs-full_ProfitLossAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentLiabilities_50f9de38-75b2-45cb-96e3-f6e3e9661da6_totalLabel_es" xlink:label="lab_ifrs-full_CurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Total pasivos corrientes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentLiabilities" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentLiabilities" xlink:to="lab_ifrs-full_CurrentLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NoncurrentAssets_1df2b7c0-968e-4570-8c99-f2e59a131519_totalLabel_es" xlink:label="lab_ifrs-full_NoncurrentAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Total activos no corrientes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentAssets" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncurrentAssets" xlink:to="lab_ifrs-full_NoncurrentAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_IngresosDePagosPorAccionesEnTesoreriaYOtrasActividadesDeLosAccionistas_13e01b31-064e-4123-973f-7949a1304e02_terseLabel_es" xlink:label="lab_tef_IngresosDePagosPorAccionesEnTesoreriaYOtrasActividadesDeLosAccionistas" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ingresos de (pagos por) acciones en tesoreria y otras actividades de los accionistas</link:label>
    <link:label id="lab_tef_IngresosDePagosPorAccionesEnTesoreriaYOtrasActividadesDeLosAccionistas_label_es" xlink:label="lab_tef_IngresosDePagosPorAccionesEnTesoreriaYOtrasActividadesDeLosAccionistas" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ingresos de (pagos por) acciones en tesoreria y otras actividades de los accionistas</link:label>
    <link:label id="lab_tef_IngresosDePagosPorAccionesEnTesoreriaYOtrasActividadesDeLosAccionistas_documentation_es" xlink:label="lab_tef_IngresosDePagosPorAccionesEnTesoreriaYOtrasActividadesDeLosAccionistas" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">(Payments)/ proceeds of treasury shares and other operations with shareholders and with minority interests</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IngresosDePagosPorAccionesEnTesoreriaYOtrasActividadesDeLosAccionistas" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_IngresosDePagosPorAccionesEnTesoreriaYOtrasActividadesDeLosAccionistas"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_IngresosDePagosPorAccionesEnTesoreriaYOtrasActividadesDeLosAccionistas" xlink:to="lab_tef_IngresosDePagosPorAccionesEnTesoreriaYOtrasActividadesDeLosAccionistas" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IssuedCapitalMember_1893c412-e773-475b-afd6-199047c9fff7_terseLabel_es" xlink:label="lab_ifrs-full_IssuedCapitalMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Capital emitido [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IssuedCapitalMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IssuedCapitalMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IssuedCapitalMember" xlink:to="lab_ifrs-full_IssuedCapitalMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PrincipalPlaceOfBusiness_8ddfb0f2-050d-49f2-a4de-5a9904d7ed3f_terseLabel_es" xlink:label="lab_ifrs-full_PrincipalPlaceOfBusiness" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Centro principal de actividad</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PrincipalPlaceOfBusiness" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PrincipalPlaceOfBusiness"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PrincipalPlaceOfBusiness" xlink:to="lab_ifrs-full_PrincipalPlaceOfBusiness" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProceedsFromIssuingShares_d4c457d0-190a-49c3-9e23-60662eb00ad3_terseLabel_es" xlink:label="lab_ifrs-full_ProceedsFromIssuingShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cobros procedentes de la emisión de acciones</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProceedsFromIssuingShares" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProceedsFromIssuingShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProceedsFromIssuingShares" xlink:to="lab_ifrs-full_ProceedsFromIssuingShares" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NetForeignExchangeLoss_cfcd2944-cd60-4c64-8fe1-c46fba057153_terseLabel_es" xlink:label="lab_ifrs-full_NetForeignExchangeLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pérdida neta por diferencias de cambio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NetForeignExchangeLoss" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NetForeignExchangeLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NetForeignExchangeLoss" xlink:to="lab_ifrs-full_NetForeignExchangeLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NoncurrentLeaseLiabilities_3c8fc4bb-7b24-451a-964f-1884e6a6c302_terseLabel_es" xlink:label="lab_ifrs-full_NoncurrentLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pasivos no corrientes por arrendamientos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentLeaseLiabilities" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentLeaseLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncurrentLeaseLiabilities" xlink:to="lab_ifrs-full_NoncurrentLeaseLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PagosDeExplotacionEInversionesMaterialesEIntangiblesFinanciados_4ed24c69-71de-4543-bb6a-578a107d038e_terseLabel_es" xlink:label="lab_tef_PagosDeExplotacionEInversionesMaterialesEIntangiblesFinanciados" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pagos de explotacion e inversiones materiales e intangibles financiados</link:label>
    <link:label id="lab_tef_PagosDeExplotacionEInversionesMaterialesEIntangiblesFinanciados_label_es" xlink:label="lab_tef_PagosDeExplotacionEInversionesMaterialesEIntangiblesFinanciados" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pagos de explotacion e inversiones materiales e intangibles financiados</link:label>
    <link:label id="lab_tef_PagosDeExplotacionEInversionesMaterialesEIntangiblesFinanciados_documentation_es" xlink:label="lab_tef_PagosDeExplotacionEInversionesMaterialesEIntangiblesFinanciados" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pagos de explotacion e inversiones materiales e intangibles financiados</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PagosDeExplotacionEInversionesMaterialesEIntangiblesFinanciados" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_PagosDeExplotacionEInversionesMaterialesEIntangiblesFinanciados"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PagosDeExplotacionEInversionesMaterialesEIntangiblesFinanciados" xlink:to="lab_tef_PagosDeExplotacionEInversionesMaterialesEIntangiblesFinanciados" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_6c89a94d-0527-40f6-ac27-1720b273d62d_totalLabel_es" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Total otro resultado global que se reclasificará a resultados, neto de impuestos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GainsLossesOnCashFlowHedgesBeforeTax_f0d2a67a-f825-48b5-a5cf-765dc4b80f0d_terseLabel_es" xlink:label="lab_ifrs-full_GainsLossesOnCashFlowHedgesBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias (pérdidas) por coberturas de flujos de efectivo, antes de impuestos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GainsLossesOnCashFlowHedgesBeforeTax" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_GainsLossesOnCashFlowHedgesBeforeTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GainsLossesOnCashFlowHedgesBeforeTax" xlink:to="lab_ifrs-full_GainsLossesOnCashFlowHedgesBeforeTax" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeAbstract_f6352221-3903-4b43-afbd-f99f3b07eca3_terseLabel_es" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro resultado global [resumen]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeAbstract" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_InvestmentAccountedForUsingEquityMethod_4ccc89bf-508d-4afc-ac68-8c9cbf028b2e_terseLabel_es" xlink:label="lab_ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Inversiones contabilizadas utilizando el método de la participación</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_InvestmentAccountedForUsingEquityMethod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:to="lab_ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinanceCosts_c597c758-b6f4-48bd-8d11-192a78f39113_terseLabel_es" xlink:label="lab_ifrs-full_FinanceCosts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Costes financieros</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinanceCosts" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FinanceCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinanceCosts" xlink:to="lab_ifrs-full_FinanceCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets_e1075bc9-8228-40d3-9344-a29a80329046_totalLabel_es" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Total otro resultado global, neto de impuestos, activos financieros disponibles para la venta</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PropertyPlantAndEquipment_3316b223-4dba-4b17-91af-6a473f6028c7_terseLabel_es" xlink:label="lab_ifrs-full_PropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Inmovilizado material</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PropertyPlantAndEquipment" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PropertyPlantAndEquipment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PropertyPlantAndEquipment" xlink:to="lab_ifrs-full_PropertyPlantAndEquipment" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EquityAttributableToOwnersOfParent_2601b864-9039-46ff-a880-1a0d5a0fa428_terseLabel_es" xlink:label="lab_ifrs-full_EquityAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Patrimonio neto atribuible a los propietarios de la dominante</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EquityAttributableToOwnersOfParent" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EquityAttributableToOwnersOfParent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EquityAttributableToOwnersOfParent" xlink:to="lab_ifrs-full_EquityAttributableToOwnersOfParent" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_GananciasPerdidasPorCostosDeCoberturaDeFlujosDeEfectivoAntesDeImpuestos_1ef92de5-2b40-4d1f-8bb4-a8343e59fe39_terseLabel_es" xlink:label="lab_tef_GananciasPerdidasPorCostosDeCoberturaDeFlujosDeEfectivoAntesDeImpuestos" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias (perdidas) por costos de cobertura de flujos de efectivo, antes de impuestos</link:label>
    <link:label id="lab_tef_GananciasPerdidasPorCostosDeCoberturaDeFlujosDeEfectivoAntesDeImpuestos_label_es" xlink:label="lab_tef_GananciasPerdidasPorCostosDeCoberturaDeFlujosDeEfectivoAntesDeImpuestos" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias (perdidas) por costos de cobertura de flujos de efectivo, antes de impuestos</link:label>
    <link:label id="lab_tef_GananciasPerdidasPorCostosDeCoberturaDeFlujosDeEfectivoAntesDeImpuestos_documentation_es" xlink:label="lab_tef_GananciasPerdidasPorCostosDeCoberturaDeFlujosDeEfectivoAntesDeImpuestos" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias (perdidas) por costos de cobertura de flujos de efectivo, antes de impuestos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_GananciasPerdidasPorCostosDeCoberturaDeFlujosDeEfectivoAntesDeImpuestos" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_GananciasPerdidasPorCostosDeCoberturaDeFlujosDeEfectivoAntesDeImpuestos"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_GananciasPerdidasPorCostosDeCoberturaDeFlujosDeEfectivoAntesDeImpuestos" xlink:to="lab_tef_GananciasPerdidasPorCostosDeCoberturaDeFlujosDeEfectivoAntesDeImpuestos" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ParticipacionEnPerdidasGananciasImputadasDirectamenteAlPatrimonioNetoAsociadasYOtros_a96fc7c1-6f44-4194-877a-527c23e0e64e_terseLabel_es" xlink:label="lab_tef_ParticipacionEnPerdidasGananciasImputadasDirectamenteAlPatrimonioNetoAsociadasYOtros" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Participacion en (perdidas) ganancias imputadas directamente al patrimonio neto (asociadas y otros)</link:label>
    <link:label id="lab_tef_ParticipacionEnPerdidasGananciasImputadasDirectamenteAlPatrimonioNetoAsociadasYOtros_label_es" xlink:label="lab_tef_ParticipacionEnPerdidasGananciasImputadasDirectamenteAlPatrimonioNetoAsociadasYOtros" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Participacion en (perdidas) ganancias imputadas directamente al patrimonio neto (asociadas y otros)</link:label>
    <link:label id="lab_tef_ParticipacionEnPerdidasGananciasImputadasDirectamenteAlPatrimonioNetoAsociadasYOtros_documentation_es" xlink:label="lab_tef_ParticipacionEnPerdidasGananciasImputadasDirectamenteAlPatrimonioNetoAsociadasYOtros" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Participacion en (perdidas) ganancias imputadas directamente al patrimonio neto (asociadas y otros)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ParticipacionEnPerdidasGananciasImputadasDirectamenteAlPatrimonioNetoAsociadasYOtros" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_ParticipacionEnPerdidasGananciasImputadasDirectamenteAlPatrimonioNetoAsociadasYOtros"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ParticipacionEnPerdidasGananciasImputadasDirectamenteAlPatrimonioNetoAsociadasYOtros" xlink:to="lab_tef_ParticipacionEnPerdidasGananciasImputadasDirectamenteAlPatrimonioNetoAsociadasYOtros" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ActivosFinancierosYOtrosActivosNoCorrientes_522a5d10-438a-4d1b-8a19-66cafacad449_terseLabel_es" xlink:label="lab_tef_ActivosFinancierosYOtrosActivosNoCorrientes" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos financieros y otros activos, no corrientes</link:label>
    <link:label id="lab_tef_ActivosFinancierosYOtrosActivosNoCorrientes_label_es" xlink:label="lab_tef_ActivosFinancierosYOtrosActivosNoCorrientes" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos financieros y otros activos, no corrientes</link:label>
    <link:label id="lab_tef_ActivosFinancierosYOtrosActivosNoCorrientes_documentation_es" xlink:label="lab_tef_ActivosFinancierosYOtrosActivosNoCorrientes" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Financial assets and other non-current assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ActivosFinancierosYOtrosActivosNoCorrientes" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_ActivosFinancierosYOtrosActivosNoCorrientes"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ActivosFinancierosYOtrosActivosNoCorrientes" xlink:to="lab_tef_ActivosFinancierosYOtrosActivosNoCorrientes" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_cce5e99e-2d61-4e32-9e3b-0355ebcca896_terseLabel_es" xlink:label="lab_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Resultado global, atribuible a propietarios de la dominante</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="lab_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProfitLossFromOperatingActivities_326c8dbb-63bb-42d1-bc3c-63bd0d588765_totalLabel_es" xlink:label="lab_ifrs-full_ProfitLossFromOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancia (pérdida) por actividades de explotación</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLossFromOperatingActivities" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLossFromOperatingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLossFromOperatingActivities" xlink:to="lab_ifrs-full_ProfitLossFromOperatingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DomicileOfEntity_a1f88bf5-34be-41e1-9773-e07db6d0b28f_terseLabel_es" xlink:label="lab_ifrs-full_DomicileOfEntity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Domicilio de la entidad</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DomicileOfEntity" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DomicileOfEntity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DomicileOfEntity" xlink:to="lab_ifrs-full_DomicileOfEntity" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ComprehensiveIncome_49c6d587-a2c8-47c5-81d1-4e5eeaa468b9_terseLabel_es" xlink:label="lab_ifrs-full_ComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Resultado global</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ComprehensiveIncome" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ComprehensiveIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ComprehensiveIncome" xlink:to="lab_ifrs-full_ComprehensiveIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_EfectoImpositivoPorLaReclasificacionRelativosAActivosFinancierosMantenidosParaLaVentaAntesDeImpuestos_c0ab08c3-fcf1-466b-bf12-a485f03d91c0_terseLabel_es" xlink:label="lab_tef_EfectoImpositivoPorLaReclasificacionRelativosAActivosFinancierosMantenidosParaLaVentaAntesDeImpuestos" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Impuesto sobre la renta relativo a ajustes por reclasificación de activos financieros disponibles para la venta</link:label>
    <link:label id="lab_tef_EfectoImpositivoPorLaReclasificacionRelativosAActivosFinancierosMantenidosParaLaVentaAntesDeImpuestos_label_es" xlink:label="lab_tef_EfectoImpositivoPorLaReclasificacionRelativosAActivosFinancierosMantenidosParaLaVentaAntesDeImpuestos" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efecto impositivo por la reclasificacion relativos a activos financieros mantenidos para la venta , antes de impuestos</link:label>
    <link:label id="lab_tef_EfectoImpositivoPorLaReclasificacionRelativosAActivosFinancierosMantenidosParaLaVentaAntesDeImpuestos_documentation_es" xlink:label="lab_tef_EfectoImpositivoPorLaReclasificacionRelativosAActivosFinancierosMantenidosParaLaVentaAntesDeImpuestos" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efecto impositivo por la reclasificacion relativos a activos financieros mantenidos para la venta , antes de impuestos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_EfectoImpositivoPorLaReclasificacionRelativosAActivosFinancierosMantenidosParaLaVentaAntesDeImpuestos" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_EfectoImpositivoPorLaReclasificacionRelativosAActivosFinancierosMantenidosParaLaVentaAntesDeImpuestos"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_EfectoImpositivoPorLaReclasificacionRelativosAActivosFinancierosMantenidosParaLaVentaAntesDeImpuestos" xlink:to="lab_tef_EfectoImpositivoPorLaReclasificacionRelativosAActivosFinancierosMantenidosParaLaVentaAntesDeImpuestos" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_AumentoDisminucionATravesDeValoresSubordinadosSinFecha_f58f537b-11a0-456a-8839-3b9608fbb91e_terseLabel_es" xlink:label="lab_tef_AumentoDisminucionATravesDeValoresSubordinadosSinFecha" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Aumento (disminución) a través de valores subordinados sin fecha</link:label>
    <link:label id="lab_tef_AumentoDisminucionATravesDeValoresSubordinadosSinFecha_label_es" xlink:label="lab_tef_AumentoDisminucionATravesDeValoresSubordinadosSinFecha" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Aumento (disminucion) a traves de valores subordinados sin fecha</link:label>
    <link:label id="lab_tef_AumentoDisminucionATravesDeValoresSubordinadosSinFecha_documentation_es" xlink:label="lab_tef_AumentoDisminucionATravesDeValoresSubordinadosSinFecha" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Aumento (disminucion) a traves de valores subordinados sin fecha</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_AumentoDisminucionATravesDeValoresSubordinadosSinFecha" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_AumentoDisminucionATravesDeValoresSubordinadosSinFecha"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_AumentoDisminucionATravesDeValoresSubordinadosSinFecha" xlink:to="lab_tef_AumentoDisminucionATravesDeValoresSubordinadosSinFecha" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Equity_37d32ae6-c373-4ae6-847e-a975806eaf6b_totalLabel_es" xlink:label="lab_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Total patrimonio neto</link:label>
    <link:label id="lab_ifrs-full_Equity_fe1aa316-5049-43ce-8a3a-e4960f1f2670_periodStartLabel_es" xlink:label="lab_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Patrimonio neto al principio del período</link:label>
    <link:label id="lab_ifrs-full_Equity_0e5b579f-b9c3-481c-a94e-9418688dc532_periodEndLabel_es" xlink:label="lab_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Patrimonio neto al final del período</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Equity" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Equity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Equity" xlink:to="lab_ifrs-full_Equity" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EquityAttributableToOwnersOfParentMember_41f1f1c0-01b2-4f09-8564-3c24751c312c_terseLabel_es" xlink:label="lab_ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Patrimonio neto atribuible a los propietarios de la dominante [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EquityAttributableToOwnersOfParentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:to="lab_ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_3e4d41bd-d891-47e0-8298-d193a5346f46_totalLabel_es" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Total otro resultado global que no se reclasificará a resultados, neto de impuestos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NoncurrentProvisions_c78524c6-390d-4430-a174-2a8bc385b125_terseLabel_es" xlink:label="lab_ifrs-full_NoncurrentProvisions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Provisiones no corrientes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentProvisions" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentProvisions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncurrentProvisions" xlink:to="lab_ifrs-full_NoncurrentProvisions" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill_4497f054-fc43-4651-b826-4cc7df2fca4b_terseLabel_es" xlink:label="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos intangibles distintos del fondo de comercio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IntangibleAssetsOtherThanGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:to="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation_970d5d51-b471-4f86-9034-051f0de207e0_terseLabel_es" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro resultado global, antes de impuestos, ganancias (pérdidas) en la revalorización</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ReclasificacionRelacionadaConLaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros_1d5c9b7e-59fa-4907-add7-f6adb939db96_terseLabel_es" xlink:label="lab_tef_ReclasificacionRelacionadaConLaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Reclasificación relacionada con la participación en las ganancias (pérdidas) reconocidas directamente en el patrimonio de asociadas y otros</link:label>
    <link:label id="lab_tef_ReclasificacionRelacionadaConLaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros_label_es" xlink:label="lab_tef_ReclasificacionRelacionadaConLaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Reclasificacion relacionada con la participacion en las ganancias (perdidas) reconocidas directamente en el patrimonio de asociadas y otros</link:label>
    <link:label id="lab_tef_ReclasificacionRelacionadaConLaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros_documentation_es" xlink:label="lab_tef_ReclasificacionRelacionadaConLaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Reclasificacion relacionada con la participacion en las ganancias (perdidas) reconocidas directamente en el patrimonio de asociadas y otros</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ReclasificacionRelacionadaConLaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_ReclasificacionRelacionadaConLaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ReclasificacionRelacionadaConLaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros" xlink:to="lab_tef_ReclasificacionRelacionadaConLaParticipacionEnLasGananciasPerdidasReconocidasDirectamenteEnElPatrimonioDeAsociadasYOtros" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AddressOfRegisteredOfficeOfEntity_087aad44-5647-40c8-a0df-56cd0cc227fc_terseLabel_es" xlink:label="lab_ifrs-full_AddressOfRegisteredOfficeOfEntity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Dirección de la sede social de la entidad</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AddressOfRegisteredOfficeOfEntity" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AddressOfRegisteredOfficeOfEntity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AddressOfRegisteredOfficeOfEntity" xlink:to="lab_ifrs-full_AddressOfRegisteredOfficeOfEntity" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Cash_d28eae4c-d195-446c-960d-d672ef7182c8_terseLabel_es" xlink:label="lab_ifrs-full_Cash" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efectivo</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Cash" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Cash"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Cash" xlink:to="lab_ifrs-full_Cash" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ProductoDeCompraPropiedadPlantaYEquipoYActivosIntangiblesClasificadosComoActividadesDeInversion_742d0c17-f126-4d66-ac6d-65d44141ced6_terseLabel_es" xlink:label="lab_tef_ProductoDeCompraPropiedadPlantaYEquipoYActivosIntangiblesClasificadosComoActividadesDeInversion" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Producto de (compra) propiedad, planta y equipo y activos intangibles, clasificados como actividades de inversión</link:label>
    <link:label id="lab_tef_ProductoDeCompraPropiedadPlantaYEquipoYActivosIntangiblesClasificadosComoActividadesDeInversion_label_es" xlink:label="lab_tef_ProductoDeCompraPropiedadPlantaYEquipoYActivosIntangiblesClasificadosComoActividadesDeInversion" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Producto de (compra) propiedad, planta y equipo y activos intangibles, clasificados como actividades de inversion</link:label>
    <link:label id="lab_tef_ProductoDeCompraPropiedadPlantaYEquipoYActivosIntangiblesClasificadosComoActividadesDeInversion_documentation_es" xlink:label="lab_tef_ProductoDeCompraPropiedadPlantaYEquipoYActivosIntangiblesClasificadosComoActividadesDeInversion" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">(Payments on investments)/ proceeds from the sale in property, plant and equipment and intangible assets, net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ProductoDeCompraPropiedadPlantaYEquipoYActivosIntangiblesClasificadosComoActividadesDeInversion" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_ProductoDeCompraPropiedadPlantaYEquipoYActivosIntangiblesClasificadosComoActividadesDeInversion"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ProductoDeCompraPropiedadPlantaYEquipoYActivosIntangiblesClasificadosComoActividadesDeInversion" xlink:to="lab_tef_ProductoDeCompraPropiedadPlantaYEquipoYActivosIntangiblesClasificadosComoActividadesDeInversion" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_f325aa6f-3e84-43ad-b0ac-630f6535e0c4_totalLabel_es" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Total otro resultado global, neto de impuestos, ganancias (pérdidas) al recalcular la valoración de los planes de prestaciones definidas</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentProvisions_57ab924f-36f3-4617-af36-6b3726c4a776_terseLabel_es" xlink:label="lab_ifrs-full_CurrentProvisions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Provisiones corrientes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentProvisions" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentProvisions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentProvisions" xlink:to="lab_ifrs-full_CurrentProvisions" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_LegalFormOfEntity_71bce37e-1d18-4177-90e7-fabc64f6ddba_terseLabel_es" xlink:label="lab_ifrs-full_LegalFormOfEntity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Forma jurídica de la entidad</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LegalFormOfEntity" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_LegalFormOfEntity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LegalFormOfEntity" xlink:to="lab_ifrs-full_LegalFormOfEntity" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_CambioContableEImpactoDeLaHiperinflacion_aa1efd5a-5d0c-48ac-8ac2-c8ac600e5567_terseLabel_es" xlink:label="lab_tef_CambioContableEImpactoDeLaHiperinflacion" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cambio contable e impacto de la hiperinflación</link:label>
    <link:label id="lab_tef_CambioContableEImpactoDeLaHiperinflacion_label_es" xlink:label="lab_tef_CambioContableEImpactoDeLaHiperinflacion" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cambio contable e impacto de la hiperinflacion</link:label>
    <link:label id="lab_tef_CambioContableEImpactoDeLaHiperinflacion_documentation_es" xlink:label="lab_tef_CambioContableEImpactoDeLaHiperinflacion" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cambio contable e impacto de la hiperinflacion</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CambioContableEImpactoDeLaHiperinflacion" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_CambioContableEImpactoDeLaHiperinflacion"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_CambioContableEImpactoDeLaHiperinflacion" xlink:to="lab_tef_CambioContableEImpactoDeLaHiperinflacion" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EquityAbstract_2273b798-c85e-47ab-9f5f-d22e5f9f1e0a_terseLabel_es" xlink:label="lab_ifrs-full_EquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Patrimonio neto [resumen]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EquityAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EquityAbstract" xlink:to="lab_ifrs-full_EquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NoncurrentAssetsAbstract_c5195ac1-f2d4-47b9-a045-940f3b6d6deb_terseLabel_es" xlink:label="lab_ifrs-full_NoncurrentAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos no corrientes [resumen]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentAssetsAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentAssetsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncurrentAssetsAbstract" xlink:to="lab_ifrs-full_NoncurrentAssetsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NameOfReportingEntityOrOtherMeansOfIdentification_9fd260a0-c714-4145-8e4a-88c92518e7ef_terseLabel_es" xlink:label="lab_ifrs-full_NameOfReportingEntityOrOtherMeansOfIdentification" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Nombre de la entidad que informa u otras formas de identificación</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NameOfReportingEntityOrOtherMeansOfIdentification" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NameOfReportingEntityOrOtherMeansOfIdentification"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NameOfReportingEntityOrOtherMeansOfIdentification" xlink:to="lab_ifrs-full_NameOfReportingEntityOrOtherMeansOfIdentification" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_IngresosDeInversionesFinancierasNoIncluidosEnEquivalentesDeEfectivo_f9530370-524b-4f6a-8503-8d3797c64a52_terseLabel_es" xlink:label="lab_tef_IngresosDeInversionesFinancierasNoIncluidosEnEquivalentesDeEfectivo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ingresos de inversiones financieras no incluidos en equivalentes de efectivo</link:label>
    <link:label id="lab_tef_IngresosDeInversionesFinancierasNoIncluidosEnEquivalentesDeEfectivo_label_es" xlink:label="lab_tef_IngresosDeInversionesFinancierasNoIncluidosEnEquivalentesDeEfectivo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ingresos de inversiones financieras no incluidos en equivalentes de efectivo</link:label>
    <link:label id="lab_tef_IngresosDeInversionesFinancierasNoIncluidosEnEquivalentesDeEfectivo_documentation_es" xlink:label="lab_tef_IngresosDeInversionesFinancierasNoIncluidosEnEquivalentesDeEfectivo" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ingresos de inversiones financieras no incluidos en equivalentes de efectivo</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IngresosDeInversionesFinancierasNoIncluidosEnEquivalentesDeEfectivo" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_IngresosDeInversionesFinancierasNoIncluidosEnEquivalentesDeEfectivo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_IngresosDeInversionesFinancierasNoIncluidosEnEquivalentesDeEfectivo" xlink:to="lab_tef_IngresosDeInversionesFinancierasNoIncluidosEnEquivalentesDeEfectivo" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NameOfParentEntity_1c1d0085-0691-4c44-b45c-af331b28e332_terseLabel_es" xlink:label="lab_ifrs-full_NameOfParentEntity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Nombre de la dominante</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NameOfParentEntity" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NameOfParentEntity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NameOfParentEntity" xlink:to="lab_ifrs-full_NameOfParentEntity" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities_ffeffc5a-f3a9-4802-8363-95c82541d6bd_totalLabel_es" xlink:label="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Flujos de efectivo procedentes de (utilizados en) actividades de inversión</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RawMaterialsAndConsumablesUsed_31d3ec3e-3805-498f-96ee-773ce1eea94f_terseLabel_es" xlink:label="lab_ifrs-full_RawMaterialsAndConsumablesUsed" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Consumos de materias primas y materiales secundarios</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RawMaterialsAndConsumablesUsed" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RawMaterialsAndConsumablesUsed"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RawMaterialsAndConsumablesUsed" xlink:to="lab_ifrs-full_RawMaterialsAndConsumablesUsed" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Revenue_067a330b-bf00-4d9c-aadd-12a512092dd4_terseLabel_es" xlink:label="lab_ifrs-full_Revenue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ingresos ordinarios</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Revenue" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Revenue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Revenue" xlink:to="lab_ifrs-full_Revenue" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentLiabilitiesAbstract_0c00d9ea-195f-4286-b855-b0d66be9c77c_terseLabel_es" xlink:label="lab_ifrs-full_CurrentLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pasivos corrientes [resumen]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentLiabilitiesAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentLiabilitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentLiabilitiesAbstract" xlink:to="lab_ifrs-full_CurrentLiabilitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NameOfUltimateParentOfGroup_4fcdbaa3-26a2-42c1-b38c-06bc7aee6d6e_terseLabel_es" xlink:label="lab_ifrs-full_NameOfUltimateParentOfGroup" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Nombre de la dominante última del grupo</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NameOfUltimateParentOfGroup" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NameOfUltimateParentOfGroup"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NameOfUltimateParentOfGroup" xlink:to="lab_ifrs-full_NameOfUltimateParentOfGroup" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EquityMember_e56de9ec-a1da-498c-8f92-b511e2748e15_terseLabel_es" xlink:label="lab_ifrs-full_EquityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Patrimonio neto [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EquityMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EquityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EquityMember" xlink:to="lab_ifrs-full_EquityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProfitLossBeforeTax_efd094c5-e598-45eb-b53f-f9f890fd5ab1_totalLabel_es" xlink:label="lab_ifrs-full_ProfitLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancia (pérdida) antes de impuestos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLossBeforeTax" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLossBeforeTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLossBeforeTax" xlink:to="lab_ifrs-full_ProfitLossBeforeTax" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_CuentasPorCobrarYOtrosActivosCorrientes_ccc31117-7bda-403a-aac8-96d9ff58789b_terseLabel_es" xlink:label="lab_tef_CuentasPorCobrarYOtrosActivosCorrientes" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cuentas por cobrar y otros activos, corrientes</link:label>
    <link:label id="lab_tef_CuentasPorCobrarYOtrosActivosCorrientes_label_es" xlink:label="lab_tef_CuentasPorCobrarYOtrosActivosCorrientes" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cuentas por cobrar y otros activos, corrientes</link:label>
    <link:label id="lab_tef_CuentasPorCobrarYOtrosActivosCorrientes_documentation_es" xlink:label="lab_tef_CuentasPorCobrarYOtrosActivosCorrientes" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Receivables and other current assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CuentasPorCobrarYOtrosActivosCorrientes" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_CuentasPorCobrarYOtrosActivosCorrientes"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_CuentasPorCobrarYOtrosActivosCorrientes" xlink:to="lab_tef_CuentasPorCobrarYOtrosActivosCorrientes" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentTaxAssetsCurrent_00c740a1-0512-4d38-bcda-f9ecdc5e7650_terseLabel_es" xlink:label="lab_ifrs-full_CurrentTaxAssetsCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos por impuesto corriente, corriente</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentTaxAssetsCurrent" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentTaxAssetsCurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentTaxAssetsCurrent" xlink:to="lab_ifrs-full_CurrentTaxAssetsCurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentAssets_c1b9a029-b98f-49b4-a4d8-47d146254495_totalLabel_es" xlink:label="lab_ifrs-full_CurrentAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Total activos corrientes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentAssets" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentAssets" xlink:to="lab_ifrs-full_CurrentAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_CuentasAPagarYOtrosPasivosNoCorrientes_33890dcc-cb80-4b77-ad11-ac6b43e8ff66_terseLabel_es" xlink:label="lab_tef_CuentasAPagarYOtrosPasivosNoCorrientes" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cuentas a pagar y otros pasivos no corrientes</link:label>
    <link:label id="lab_tef_CuentasAPagarYOtrosPasivosNoCorrientes_label_es" xlink:label="lab_tef_CuentasAPagarYOtrosPasivosNoCorrientes" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cuentas a pagar y otros pasivos no corrientes</link:label>
    <link:label id="lab_tef_CuentasAPagarYOtrosPasivosNoCorrientes_documentation_es" xlink:label="lab_tef_CuentasAPagarYOtrosPasivosNoCorrientes" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Payables and other non-current liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CuentasAPagarYOtrosPasivosNoCorrientes" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_CuentasAPagarYOtrosPasivosNoCorrientes"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_CuentasAPagarYOtrosPasivosNoCorrientes" xlink:to="lab_tef_CuentasAPagarYOtrosPasivosNoCorrientes" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_AjustePorReclasificacionSobreNuevasMedicionesDePlanesDeBeneficiosDefinidosAntesDeImpuestos_17bbc2e8-42b4-42c0-afbf-ecd8c4d94112_terseLabel_es" xlink:label="lab_tef_AjustePorReclasificacionSobreNuevasMedicionesDePlanesDeBeneficiosDefinidosAntesDeImpuestos" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ajuste por reclasificación sobre nuevas mediciones de planes de beneficios definidos, antes de impuestos</link:label>
    <link:label id="lab_tef_AjustePorReclasificacionSobreNuevasMedicionesDePlanesDeBeneficiosDefinidosAntesDeImpuestos_label_es" xlink:label="lab_tef_AjustePorReclasificacionSobreNuevasMedicionesDePlanesDeBeneficiosDefinidosAntesDeImpuestos" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ajuste por reclasificacion sobre nuevas mediciones de planes de beneficios definidos, antes de impuestos</link:label>
    <link:label id="lab_tef_AjustePorReclasificacionSobreNuevasMedicionesDePlanesDeBeneficiosDefinidosAntesDeImpuestos_documentation_es" xlink:label="lab_tef_AjustePorReclasificacionSobreNuevasMedicionesDePlanesDeBeneficiosDefinidosAntesDeImpuestos" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ajuste por reclasificacion sobre nuevas mediciones de planes de beneficios definidos, antes de impuestos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_AjustePorReclasificacionSobreNuevasMedicionesDePlanesDeBeneficiosDefinidosAntesDeImpuestos" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_AjustePorReclasificacionSobreNuevasMedicionesDePlanesDeBeneficiosDefinidosAntesDeImpuestos"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_AjustePorReclasificacionSobreNuevasMedicionesDePlanesDeBeneficiosDefinidosAntesDeImpuestos" xlink:to="lab_tef_AjustePorReclasificacionSobreNuevasMedicionesDePlanesDeBeneficiosDefinidosAntesDeImpuestos" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProfitLoss_6b51c8e4-2dc4-4322-b815-ae95ce72b348_totalLabel_es" xlink:label="lab_ifrs-full_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancia (pérdida)</link:label>
    <link:label id="lab_ifrs-full_ProfitLoss_1b0a6fa4-0dae-48fb-92a5-50f81c859d22_terseLabel_es" xlink:label="lab_ifrs-full_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancia (pérdida)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLoss" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLoss" xlink:to="lab_ifrs-full_ProfitLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentTaxLiabilitiesCurrent_3c901f41-529a-4fcb-be94-ba058baeefcb_terseLabel_es" xlink:label="lab_ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pasivos por impuesto corriente, corriente</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentTaxLiabilitiesCurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:to="lab_ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities_d2212e93-afeb-412d-9db0-fee60e1553cb_terseLabel_es" xlink:label="lab_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pagos (devoluciones) de los impuestos sobre las ganancias, clasificados como actividades de explotación</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:to="lab_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DividendsPaidClassifiedAsFinancingActivities_b5fe7c39-6c87-4fe3-843c-5dc5a8efa252_terseLabel_es" xlink:label="lab_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Dividendos pagados, clasificados como actividades de financiación</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DividendsPaidClassifiedAsFinancingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:to="lab_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_5e32090a-6ddd-4c51-a868-f092ae7bf1b3_terseLabel_es" xlink:label="lab_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pagos de pasivos por arrendamientos, clasificados como actividades de financiación</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:to="lab_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_e6010fc5-fecf-48c0-a648-8c864170330a_terseLabel_es" xlink:label="lab_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Participación en la ganancia (pérdida) de asociadas y negocios conjuntos contabilizados según el método de la participación</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:to="lab_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncome_40ec7f5e-899e-462c-9814-c808a7860eb7_terseLabel_es" xlink:label="lab_ifrs-full_OtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro resultado global</link:label>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncome_392519a3-34d5-40e2-876b-6ea8abcfea2f_verboseLabel_es" xlink:label="lab_ifrs-full_OtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro resultado global</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncome" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncome" xlink:to="lab_ifrs-full_OtherComprehensiveIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_StatementOfChangesInEquityLineItems_6e59c8eb-2a28-489c-8d6b-19b0f39fe8a8_terseLabel_es" xlink:label="lab_ifrs-full_StatementOfChangesInEquityLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Estado de cambios en el patrimonio neto [partidas]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_StatementOfChangesInEquityLineItems" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_StatementOfChangesInEquityLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_StatementOfChangesInEquityLineItems" xlink:to="lab_ifrs-full_StatementOfChangesInEquityLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherExpenseByNature_33ee91c7-7575-45b2-906e-86317a656008_terseLabel_es" xlink:label="lab_ifrs-full_OtherExpenseByNature" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros gastos, por naturaleza</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherExpenseByNature" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherExpenseByNature"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherExpenseByNature" xlink:to="lab_ifrs-full_OtherExpenseByNature" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_IngresosDePagosPorColocacionesDeExcedentesDeEfectivoNoIncluidosEnEquivalentesDeEfectivo_fbeb4523-7502-4f6c-b70d-c0b554ba5d0b_terseLabel_es" xlink:label="lab_tef_IngresosDePagosPorColocacionesDeExcedentesDeEfectivoNoIncluidosEnEquivalentesDeEfectivo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ingresos de (pagos por) colocaciones de excedentes de efectivo no incluidos en equivalentes de efectivo</link:label>
    <link:label id="lab_tef_IngresosDePagosPorColocacionesDeExcedentesDeEfectivoNoIncluidosEnEquivalentesDeEfectivo_label_es" xlink:label="lab_tef_IngresosDePagosPorColocacionesDeExcedentesDeEfectivoNoIncluidosEnEquivalentesDeEfectivo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ingresos de (pagos por) colocaciones de excedentes de efectivo no incluidos en equivalentes de efectivo</link:label>
    <link:label id="lab_tef_IngresosDePagosPorColocacionesDeExcedentesDeEfectivoNoIncluidosEnEquivalentesDeEfectivo_documentation_es" xlink:label="lab_tef_IngresosDePagosPorColocacionesDeExcedentesDeEfectivoNoIncluidosEnEquivalentesDeEfectivo" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ingresos de (pagos por) colocaciones de excedentes de efectivo no incluidos en equivalentes de efectivo</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IngresosDePagosPorColocacionesDeExcedentesDeEfectivoNoIncluidosEnEquivalentesDeEfectivo" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_IngresosDePagosPorColocacionesDeExcedentesDeEfectivoNoIncluidosEnEquivalentesDeEfectivo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_IngresosDePagosPorColocacionesDeExcedentesDeEfectivoNoIncluidosEnEquivalentesDeEfectivo" xlink:to="lab_tef_IngresosDePagosPorColocacionesDeExcedentesDeEfectivoNoIncluidosEnEquivalentesDeEfectivo" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ImpuestoALasGananciasRelacionadoConLosCostosDeCoberturaDeFlujosDeEfectivoIncluidosEnOtroResultadoIntegral_8c1c98ae-d1c3-42e0-a52c-e0e1886703e7_terseLabel_es" xlink:label="lab_tef_ImpuestoALasGananciasRelacionadoConLosCostosDeCoberturaDeFlujosDeEfectivoIncluidosEnOtroResultadoIntegral" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Impuesto a las ganancias relacionado con los costos de cobertura de flujos de efectivo incluidos en otro resultado integral</link:label>
    <link:label id="lab_tef_ImpuestoALasGananciasRelacionadoConLosCostosDeCoberturaDeFlujosDeEfectivoIncluidosEnOtroResultadoIntegral_label_es" xlink:label="lab_tef_ImpuestoALasGananciasRelacionadoConLosCostosDeCoberturaDeFlujosDeEfectivoIncluidosEnOtroResultadoIntegral" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Impuesto a las ganancias relacionado con los costos de cobertura de flujos de efectivo incluidos en otro resultado integral</link:label>
    <link:label id="lab_tef_ImpuestoALasGananciasRelacionadoConLosCostosDeCoberturaDeFlujosDeEfectivoIncluidosEnOtroResultadoIntegral_documentation_es" xlink:label="lab_tef_ImpuestoALasGananciasRelacionadoConLosCostosDeCoberturaDeFlujosDeEfectivoIncluidosEnOtroResultadoIntegral" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Impuesto a las ganancias relacionado con los costos de cobertura de flujos de efectivo incluidos en otro resultado integral</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ImpuestoALasGananciasRelacionadoConLosCostosDeCoberturaDeFlujosDeEfectivoIncluidosEnOtroResultadoIntegral" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_ImpuestoALasGananciasRelacionadoConLosCostosDeCoberturaDeFlujosDeEfectivoIncluidosEnOtroResultadoIntegral"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ImpuestoALasGananciasRelacionadoConLosCostosDeCoberturaDeFlujosDeEfectivoIncluidosEnOtroResultadoIntegral" xlink:to="lab_tef_ImpuestoALasGananciasRelacionadoConLosCostosDeCoberturaDeFlujosDeEfectivoIncluidosEnOtroResultadoIntegral" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax_d3a97d65-48a5-421b-9a0c-f9985b90e59b_totalLabel_es" xlink:label="lab_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Participación en otro resultado global de las asociadas y negocios conjuntos que se contabilicen según el método de la participación que se reclasificará a resultados, neta de impuestos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="lab_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentFinancialAssets_0a8ebea0-7300-45e3-acd4-19404f157ba6_verboseLabel_es" xlink:label="lab_ifrs-full_CurrentFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos financieros corrientes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentFinancialAssets" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentFinancialAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentFinancialAssets" xlink:to="lab_ifrs-full_CurrentFinancialAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RightofuseAssets_ae164494-bb65-4f8c-8965-cd421742b9ae_terseLabel_es" xlink:label="lab_ifrs-full_RightofuseAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos por derecho de uso</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RightofuseAssets" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RightofuseAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RightofuseAssets" xlink:to="lab_ifrs-full_RightofuseAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities_06dce4f5-6cc6-4f7b-9dcd-63a60040aca2_totalLabel_es" xlink:label="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Flujos de efectivo procedentes de (utilizados en) actividades de financiación</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DepreciationAndAmortisationExpense_85099274-14bd-4ff2-8e51-30ddeedf6822_terseLabel_es" xlink:label="lab_ifrs-full_DepreciationAndAmortisationExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Gastos por depreciación y amortización</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DepreciationAndAmortisationExpense" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DepreciationAndAmortisationExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DepreciationAndAmortisationExpense" xlink:to="lab_ifrs-full_DepreciationAndAmortisationExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashAndCashEquivalents_f266e422-00dc-4db5-ac16-07fce6e6f802_terseLabel_es" xlink:label="lab_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efectivo y equivalentes al efectivo</link:label>
    <link:label id="lab_ifrs-full_CashAndCashEquivalents_046efd37-e7fb-449c-8af7-afeec0629775_periodStartLabel_es" xlink:label="lab_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efectivo y equivalentes de efectivo al inicio del periodo</link:label>
    <link:label id="lab_ifrs-full_CashAndCashEquivalents_2c0b2985-3328-417f-bc59-3340ba75cd0e_periodEndLabel_es" xlink:label="lab_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efectivo y equivalentes de efectivo al final del periodo</link:label>
    <link:label id="lab_ifrs-full_CashAndCashEquivalents_789f7f01-6107-47f2-b177-6c1ba6bb75ec_totalLabel_es" xlink:label="lab_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Total efectivo y equivalentes al efectivo</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashAndCashEquivalents" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashAndCashEquivalents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashAndCashEquivalents" xlink:to="lab_ifrs-full_CashAndCashEquivalents" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_1474161f-f6fe-418b-915f-c61c5e057b61_terseLabel_es" xlink:label="lab_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Flujos de efectivo procedentes de (utilizados en) actividades de inversión [resumen]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="lab_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_ccb954fa-0928-44fc-b7c1-02e15e46d814_terseLabel_es" xlink:label="lab_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Resultado global, atribuible a participaciones no dominantes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:to="lab_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures_430cd8dc-3f3b-40ed-a303-fc425a70e619_terseLabel_es" xlink:label="lab_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cobros procedentes de la emisión de obligaciones con y sin garantía y pagarés</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures" xlink:to="lab_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OtrosResultadosIntegralesNetoDeImpuestosCostosDeCoberturaDeFlujosDeEfectivo_c592301e-b64f-4d80-a676-fa54eb2fe1d7_totalLabel_es" xlink:label="lab_tef_OtrosResultadosIntegralesNetoDeImpuestosCostosDeCoberturaDeFlujosDeEfectivo" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros resultados integrales, neto de impuestos, costos de cobertura de flujos de efectivo</link:label>
    <link:label id="lab_tef_OtrosResultadosIntegralesNetoDeImpuestosCostosDeCoberturaDeFlujosDeEfectivo_label_es" xlink:label="lab_tef_OtrosResultadosIntegralesNetoDeImpuestosCostosDeCoberturaDeFlujosDeEfectivo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros resultados integrales, neto de impuestos, costos de cobertura de flujos de efectivo</link:label>
    <link:label id="lab_tef_OtrosResultadosIntegralesNetoDeImpuestosCostosDeCoberturaDeFlujosDeEfectivo_documentation_es" xlink:label="lab_tef_OtrosResultadosIntegralesNetoDeImpuestosCostosDeCoberturaDeFlujosDeEfectivo" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros resultados integrales, neto de impuestos, costos de cobertura de flujos de efectivo</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtrosResultadosIntegralesNetoDeImpuestosCostosDeCoberturaDeFlujosDeEfectivo" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_OtrosResultadosIntegralesNetoDeImpuestosCostosDeCoberturaDeFlujosDeEfectivo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OtrosResultadosIntegralesNetoDeImpuestosCostosDeCoberturaDeFlujosDeEfectivo" xlink:to="lab_tef_OtrosResultadosIntegralesNetoDeImpuestosCostosDeCoberturaDeFlujosDeEfectivo" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale_f44363a6-8604-468b-b042-82273cd93e02_terseLabel_es" xlink:label="lab_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pasivos incluidos en grupos enajenables de elementos clasificados como mantenidos para la venta</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:to="lab_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_9ea776e9-b91d-42af-a93e-5bd07284b620_verboseLabel_es" xlink:label="lab_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Flujos de efectivo procedentes de la pérdida de control de dependientes u otros negocios, clasificados como actividades de inversión</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:to="lab_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinanceIncome_648a9d25-55bd-4215-bf5c-e0c9aab22016_terseLabel_es" xlink:label="lab_ifrs-full_FinanceIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ingresos financieros</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinanceIncome" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FinanceIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinanceIncome" xlink:to="lab_ifrs-full_FinanceIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_c241707d-bce0-46e8-955a-0bc2b6131797_terseLabel_es" xlink:label="lab_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Flujos de efectivo procedentes de (utilizados en) actividades de financiación [resumen]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="lab_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities_14382f69-5fc0-44ff-92a1-8c8a9a94791c_terseLabel_es" xlink:label="lab_ifrs-full_DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Descripción de la naturaleza de las operaciones de la entidad y de sus actividades principales</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities" xlink:to="lab_ifrs-full_DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProfitLossAttributableToOwnersOfParent_bfd707ea-1a0b-4876-816e-7d20ed4b32e6_terseLabel_es" xlink:label="lab_ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancia (pérdida), atribuible a los propietarios de la dominante</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLossAttributableToOwnersOfParent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:to="lab_ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Goodwill_7290f85d-4874-4ad3-895f-5f7f9021030d_terseLabel_es" xlink:label="lab_ifrs-full_Goodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Fondo de comercio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Goodwill" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Goodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Goodwill" xlink:to="lab_ifrs-full_Goodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PagoDeInteresesYOtrosGastosFinancierosNetoDeDividendosRecibidos_50d79dfe-d530-4a74-ad6d-c7c090098a1c_terseLabel_es" xlink:label="lab_tef_PagoDeInteresesYOtrosGastosFinancierosNetoDeDividendosRecibidos" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pago de intereses y otros gastos financieros, neto de dividendos recibidos</link:label>
    <link:label id="lab_tef_PagoDeInteresesYOtrosGastosFinancierosNetoDeDividendosRecibidos_label_es" xlink:label="lab_tef_PagoDeInteresesYOtrosGastosFinancierosNetoDeDividendosRecibidos" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pago de intereses y otros gastos financieros, neto de dividendos recibidos</link:label>
    <link:label id="lab_tef_PagoDeInteresesYOtrosGastosFinancierosNetoDeDividendosRecibidos_documentation_es" xlink:label="lab_tef_PagoDeInteresesYOtrosGastosFinancierosNetoDeDividendosRecibidos" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">N et payments of interest and other financial expenses, net of dividends received</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PagoDeInteresesYOtrosGastosFinancierosNetoDeDividendosRecibidos" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_PagoDeInteresesYOtrosGastosFinancierosNetoDeDividendosRecibidos"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PagoDeInteresesYOtrosGastosFinancierosNetoDeDividendosRecibidos" xlink:to="lab_tef_PagoDeInteresesYOtrosGastosFinancierosNetoDeDividendosRecibidos" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TreasurySharesMember_3c13d96d-0752-4eb6-a50b-fc62d0ac5266_terseLabel_es" xlink:label="lab_ifrs-full_TreasurySharesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Acciones propias [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TreasurySharesMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_TreasurySharesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TreasurySharesMember" xlink:to="lab_ifrs-full_TreasurySharesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale_727c914e-bb98-4dbb-99a4-675ec38dd27d_terseLabel_es" xlink:label="lab_ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efectivo y equivalentes al efectivo clasificados como parte de un grupo enajenable de elementos mantenido para la venta</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" xlink:to="lab_ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_EfectoImpositivoSobreLasGananciasPerdidasRelativoAActivosFinancierosMantenidosParaLaVentaAntesDeImpuestos_b0086be5-f7b6-4375-98df-24f811abc14d_terseLabel_es" xlink:label="lab_tef_EfectoImpositivoSobreLasGananciasPerdidasRelativoAActivosFinancierosMantenidosParaLaVentaAntesDeImpuestos" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efecto impositivo sobre las ganancias (perdidas) relativo a activos financieros mantenidos para la venta antes de impuestos</link:label>
    <link:label id="lab_tef_EfectoImpositivoSobreLasGananciasPerdidasRelativoAActivosFinancierosMantenidosParaLaVentaAntesDeImpuestos_label_es" xlink:label="lab_tef_EfectoImpositivoSobreLasGananciasPerdidasRelativoAActivosFinancierosMantenidosParaLaVentaAntesDeImpuestos" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efecto impositivo sobre las ganancias (perdidas) relativo a activos financieros mantenidos para la venta antes de impuestos</link:label>
    <link:label id="lab_tef_EfectoImpositivoSobreLasGananciasPerdidasRelativoAActivosFinancierosMantenidosParaLaVentaAntesDeImpuestos_documentation_es" xlink:label="lab_tef_EfectoImpositivoSobreLasGananciasPerdidasRelativoAActivosFinancierosMantenidosParaLaVentaAntesDeImpuestos" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efecto impositivo sobre las ganancias (perdidas) relativo a activos financieros mantenidos para la venta antes de impuestos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_EfectoImpositivoSobreLasGananciasPerdidasRelativoAActivosFinancierosMantenidosParaLaVentaAntesDeImpuestos" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_EfectoImpositivoSobreLasGananciasPerdidasRelativoAActivosFinancierosMantenidosParaLaVentaAntesDeImpuestos"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_EfectoImpositivoSobreLasGananciasPerdidasRelativoAActivosFinancierosMantenidosParaLaVentaAntesDeImpuestos" xlink:to="lab_tef_EfectoImpositivoSobreLasGananciasPerdidasRelativoAActivosFinancierosMantenidosParaLaVentaAntesDeImpuestos" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax_7408ad85-4fec-42b1-9a5a-32f34f7b52e8_terseLabel_es" xlink:label="lab_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias (pérdidas) por recálculo de la valoración de activos financieros disponibles para la venta, antes de impuestos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax" xlink:to="lab_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_a10ca7bb-7326-4ba2-99e8-1616ac233114_terseLabel_es" xlink:label="lab_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Reembolsos de préstamos tomados, clasificados como actividades de financiación</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:to="lab_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_CambioDePoliticaContable_95cdffd2-398b-43c2-b6ff-e5134e2cc1af_terseLabel_es" xlink:label="lab_tef_CambioDePoliticaContable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cambio de política contable</link:label>
    <link:label id="lab_tef_CambioDePoliticaContable_label_es" xlink:label="lab_tef_CambioDePoliticaContable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cambio de politica contable</link:label>
    <link:label id="lab_tef_CambioDePoliticaContable_documentation_es" xlink:label="lab_tef_CambioDePoliticaContable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cambio de politica contable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CambioDePoliticaContable" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_CambioDePoliticaContable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_CambioDePoliticaContable" xlink:to="lab_tef_CambioDePoliticaContable" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome_67e1c867-11e0-4a58-ba96-c5e0a08dd5ab_terseLabel_es" xlink:label="lab_ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Impuesto sobre las ganancias relativo a cambios en la reserva por revalorización incluidos en otro resultado global</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome" xlink:to="lab_ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProfitLossAttributableToAbstract_e2fd6ac4-f5e0-48e1-9d15-9743fc542b6e_terseLabel_es" xlink:label="lab_ifrs-full_ProfitLossAttributableToAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancia (pérdida), atribuible a [resumen]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLossAttributableToAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLossAttributableToAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLossAttributableToAbstract" xlink:to="lab_ifrs-full_ProfitLossAttributableToAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities_a530d01b-c2af-45ad-858e-dd0d59beaa13_totalLabel_es" xlink:label="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Flujos de efectivo procedentes de (utilizados en) actividades de explotación</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ReserveOfCashFlowHedgesMember_23a98608-d009-4210-8cb3-c5dee351887e_terseLabel_es" xlink:label="lab_ifrs-full_ReserveOfCashFlowHedgesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Reserva de cobertura de flujos de efectivo [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ReserveOfCashFlowHedgesMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReserveOfCashFlowHedgesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReserveOfCashFlowHedgesMember" xlink:to="lab_ifrs-full_ReserveOfCashFlowHedgesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentAssetsAbstract_7a6abcc0-208b-45a0-969c-e1e6a132cc8f_terseLabel_es" xlink:label="lab_ifrs-full_CurrentAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos corrientes [resumen]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentAssetsAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentAssetsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentAssetsAbstract" xlink:to="lab_ifrs-full_CurrentAssetsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OperacionesConOtrosTenedoresDeInstrumentosDePatrimonio_773e074a-07ec-4fc1-8458-da08a9611289_terseLabel_es" xlink:label="lab_tef_OperacionesConOtrosTenedoresDeInstrumentosDePatrimonio" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Operaciones con otros tenedores de instrumentos de patrimonio</link:label>
    <link:label id="lab_tef_OperacionesConOtrosTenedoresDeInstrumentosDePatrimonio_label_es" xlink:label="lab_tef_OperacionesConOtrosTenedoresDeInstrumentosDePatrimonio" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Operaciones con otros tenedores de instrumentos de patrimonio</link:label>
    <link:label id="lab_tef_OperacionesConOtrosTenedoresDeInstrumentosDePatrimonio_documentation_es" xlink:label="lab_tef_OperacionesConOtrosTenedoresDeInstrumentosDePatrimonio" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Operations with other equity holders</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OperacionesConOtrosTenedoresDeInstrumentosDePatrimonio" xlink:href="549300EEJH4FEPDBBR25-2020-12-31.xsd#tef_OperacionesConOtrosTenedoresDeInstrumentosDePatrimonio"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OperacionesConOtrosTenedoresDeInstrumentosDePatrimonio" xlink:to="lab_tef_OperacionesConOtrosTenedoresDeInstrumentosDePatrimonio" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashEquivalents_a58ee73e-2f7e-4cc4-8a6f-0505acd6f783_terseLabel_es" xlink:label="lab_ifrs-full_CashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Equivalentes al efectivo</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashEquivalents" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashEquivalents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashEquivalents" xlink:to="lab_ifrs-full_CashEquivalents" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EmployeeBenefitsExpense_a29ef305-0aa7-4eb2-9d96-b740bef2842e_terseLabel_es" xlink:label="lab_ifrs-full_EmployeeBenefitsExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Gastos por retribuciones a los empleados</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EmployeeBenefitsExpense" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EmployeeBenefitsExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EmployeeBenefitsExpense" xlink:to="lab_ifrs-full_EmployeeBenefitsExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation_b286e3d5-daa8-46fd-92e6-e4bf673dd9c1_totalLabel_es" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro resultado global, neto de impuestos, ganancias (pérdidas) en la revalorización</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DeferredTaxLiabilities_0427f6dc-bd8c-46c1-a3ce-820c70208ca6_terseLabel_es" xlink:label="lab_ifrs-full_DeferredTaxLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pasivos por impuestos diferidos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DeferredTaxLiabilities" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DeferredTaxLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DeferredTaxLiabilities" xlink:to="lab_ifrs-full_DeferredTaxLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EquityAndLiabilities_dfa09ef0-ad5e-489c-8504-623042d6bc4b_totalLabel_es" xlink:label="lab_ifrs-full_EquityAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Total patrimonio neto y pasivo</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EquityAndLiabilities" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EquityAndLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EquityAndLiabilities" xlink:to="lab_ifrs-full_EquityAndLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_3009d116-85d4-4fc9-b8d3-a654d1dc597f_terseLabel_es" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro resultado global, neto de impuestos, diferencias de cambio en la conversión</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:type="arc" order="1"/>
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