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Real Madrid is headed to the Champions League final. Matthias Hangst/Bongarts/Getty Images

Real Madrid and Liverpool are set to square off in the UEFA Champions League final on May 26 at the NSC Olimpiyskiy Stadium in Kiev, Ukraine, with the Spanish titans seeking a three-peat and the Reds looking to climb into sole possession of third in total number of titles.

Indeed, this year's title game is a battle of traditional European powers, as Real Madrid have won the tournament 12 times, while Liverpool are tied with Bayern Munich and Barcelona with five titles. A.C. Milan have won Champions League seven times.

Aside from their historical success, the two clubs also boast highly talented rosters. Real Madrid own one of the deepest midfields in the world and have one of the game's most prolific scorers in Cristiano Ronaldo. Liverpool have thrived behind the inspired play of Egyptian forward Mohamed Salah, who was named the Player of the Year in the Premier League, and a much-improved defense following the addition of center back Virgil van Dijk.

There isn't a clear favorite. According to betting site OddsChecker, Real Madrid enter as the favorite at 8/11 odds, while Liverpool are the underdog at 11/10.

The two clubs showed their worth by big wins in the semifinals. Real Madrid held off German titans Bayern Munich, while Liverpool made easy work of AS Roma.

Both clubs endured disappointing domestic seasons. Real Madrid are currently 15 points behind chief rival and champion Barcelona and four points behind local rival Atletico Madrid in La Liga. Liverpool are also in third place, behind champion Manchester City and longtime rival Manchester United.

Prediction: Liverpool's run have been impressive considering some of their struggles in the Premier League the past two seasons. The Reds may put up more of a fight against Real Madrid than some may expect, but it will be highly difficult to overcome such a powerhouse roster. Don't be surprised if Real Madrid score an early goal, forcing Liverpool to be more aggressive than they'd prefer. Because of Real Madrid's vast experience, this could be a very one-sided affair.

It will be another title for Ronaldo and Co.

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Real Madrid are seeking their third-consecutive title in the Champions League Final Denis Doyle/Getty Images