The two sides met in the first leg of their quarter-final tie, ahead of the return meeting next week.
In a tight game, Atletico emerged with the advantage thanks to a slender win.
Read how the match unfolded in Sports Mole's live commentary below.
7.33pmOur focus tonight is at the Vicente Calderon, where Atletico Madrid host Athletic Bilbao in the first leg of their quarter-final meeting. Given the form of both teams, many predict this to be the most even contest of all the last-eight matches, and it's hard to disagree with that view.
7.34pmIn terms of their La Liga positions, it's second against fourth, although Atletico sit 12 points above Bilbao as they battle it out with Barcelona and Real Madrid for the title. Bilbao are looking to complete the top four this season and return to the Champions League, although they currently have Villarreal right on their tail at present.
7.36pmAtletico are looking to bounce back from a tough league draw at the weekend. The capital club have remained strong early in the new year but they've definitely cooled off a bit in recent weeks, drawing three of their last five matches in the league and Copa del Rey.
7.37pmIt could be argued that a big part of that recent slump is down to the lack of goals, with Atletico scoring just a goal or fewer in all but one of those matches. Diego Costa, the striker who has reportedly caught the eye of Arsenal and Chelsea, is at the heart of the problem having failed to score since putting two past Levante in late December.
7.41pmMeanwhile, Bilbao have been on a bit of a hot streak on home turf. As of late, it doesn't seem to matter who they play or even if they fall behind, they seem to end up victorious. On Monday, Valladolid felt the power of the Lions, and they are the third team this season to have taken the lead in Bilbao and ended up losing. Bilbao were missing a number of players too, including Mikel Rico, goalkeeper San Jose and Iker Muniain.
7.42pmRight, let's bring you the team news.
7.43pmATLETICO XI: Herrerin, Iraola, Gurpegi, Laporte, Balenziaga, Iturraspe, Rico, Herrera, De Marcos, Kike Sola, Ibai
7.50pmToby Alderweireld, Cristian Rodriguez, Joshua Guilavogui and Adrian Lopez all come into the starting lineup, while Diego Costa also starts. Miranda, Gabi, Arda Turan and David Villa all drop out.
7.50pmHere are the substitutes.
7.51pmATLETICO BENCH: Aranzubia, Villa, Turan, Gabi, Oliver Torres, Insua, Miranda
7.52pmSo that is what Simeone has opted for. Time to find out the Bilbao squad.
7.53pmBILBAO XI: Herrerin, Laporte, Balenziaga, Iraola, Mikel Rico, Gurpegui, Iturraspe, Ander Herrera, Sola, De Marcos, Gomez
7.56pmIago Herrerin starts in between the sticks, while Mikel Rico, Kike Sola and Oscar de Marcos all return. Gorka Iraizoz, Benat, Markel Susaeta and Aritz Aduriz all drop out.
7.57pmBilbao are still without the injured Munain. Here is what Iraola has in reserve.
7.58pmBILBAO BENCH: Iraizoz, San Jose, Benat, Susaeta, Etxeita, Aduriz, Saborit
7.59pmThe teams are out at the Vicente Calderon, and kick off is just a few minutes away.
8.00pmAtletico are in their first kit of red-and-white-striped shirts with blue shorts and red socks. Bilbao are sporting their away strip of blue shirts, white shorts and blue socks.
1 minKICK OFF! Bilbao, playing from right to left, get the tie underway.
3 minNo chances as of yet, but it's been an honourable start from Bilbao. They've have most of the possession so far, and are doing well to keep hold of it. Atletico are giving them a lot of room though.
5 minAtletico are starting to come back into it a bit more now as they attack the Bilbao half. The Lions are standing strong at the moment though.
6 minCosta will no doubt be an important player for Atletico tonight, he uses his strength to win the hosts a corner.
7 minCHANCE! How has this not gone in?! Koke whips in an excellent delivery from the left, which bounces right across the face of goal and out for a goal kick. All it needed was a touch an it would have been 1-0 Atletico. Costa, who was heavily marked, wasn't too far away, but he couldn't quite reach it.
9 minBilbao have settled again following a few panicky moments. Still can't believe that corner didn't find the back of the net.
11 minMISS! Now it's Bilbao's turn to squander a wonderful chance. The ball is crossed in from the right touchline by Gurpegui, and it bounces through to the far side of the box. Ander Herrera arrives late and smashes it on his weaker left foot, but it flies over. He knows that he should have done a lot better.
14 minBilbao are in control at the moment, and Atletico are weather a bit of a storm.
16 minCHANCE! Bilbao have another go at goal as Gomez races to the ball ahead of Alderweireld and smashes a shot into the near side-netting. It took a deflection though, and goes for a corner.
17 minThe corner comes to nothing, and Atletico can try to push out from the back.
18 minAnother corner goes Bilbao's way, but again Atletico can clear.
22 minWorrying moments for Bilbao here as Sola goes into a 50-50 challenge against Guilavogui and comes out worse. He's down and receiving treatment.
24 minSola has limped off the field with the help of the physio's, but it remains unclear as to whether or not he will be subbed.
26 minAtletico have started to take control once again, as they hover around the Bilbao box. Adrian Lopez goes on a mazy run into the area, but doesn't have support and loses the ball.
29 minThe games a bit quiet at the moment, we haven't had a chance in a fair while.
32 minAtletico win a free kick out of the left touchline. Maybe a chance to float this one into the box and on the head of one of the big boys.
33 minKoke curls in another wonderful cross with venom, but Guilavogui has been penalised for being in an offside position.
36 minThe noise at the Vicente Calderon rises as Diego Costa is slid through on goal by Filipe Luis, but the flag is up on the far side. It was very tight.
38 minKoke is going to be a key man tonight for Atletico, and has done well so far. It's not hard to see what all the hype is about with him. He just seems to make them tick.
40 minSAVE! Chance for Atletico, as Koke threads the ball through to Lopez. Herrerin comes flying off his line though, and manages to make the block with his legs.
41 minGOAL! Atletico Madrid 1-0 Athletic Bilbao (Diego Godin)
41 minFirst blood to Atletico, and it's the defender Godin with the goal. The ball goes wide on the right to Koke, who plays another superb cross into the box. It finds Godin at the back post, who rises highest, to power home the header.
42 minYELLOW CARD: Bit of a weird one this. Diego Costa is played into the box, but is brilliantly challenged at the last second by Laporte, who makes the sliding tackle to win the ball and prevent the penalty. Costa lands on top of Laporte, and then appears to grab his head and wrap his arm around Laporte as if he was gearing up for a Stone Cold Stunner. Costa is booked for doing so, and Laporte was certainly in favour of that outcome.
44 minCosta still looks mythed at that decision now.
45 minThere will be one added minute.
45+1 minCosta is walking a tightrope here as his challenge with Laporte leaves the defender outstretched and needing treatment. He pleads his innocence following the 50-50 challenge, and I take his side of the argument on this one. He did not look to have intentionally fouled Laporte.
45+2 minHALF TIME: Atletico Madrid 1-0 Athletic Bilbao
8.49pmSo we're a quarter of the way through this quarter-final, and it's so far so good for Atletico. Godin's header separates the two teams at the break, with Koke the star performer.
8.50pmIt was a fairly even first half, and Bilbao had a few early chances. However, will that goal chance the complexion of the game? Time will tell.
9.02pmThe teams are back out, and it looks as if both sides are going to make a change.
9.02pmATLETICO CHANGE: Gabi is on for the holders, replacing Joshua Guilavogui.
9.03pmBILBAO CHANGE: Ibai Gomez has been withdrawn by the visitors, who have sent on Markel Susaeta.
46 minKICK OFF! Atletico, playing to the left, get the second half up and running.
47 minEarly corner for Atletico, which Koke swings in from the right. It's an easy catch for Herrerin, who wasn't challenged.
50 minDecent start to the half from the holders, but they need to do better from these corners. They've been too easy to deal with for Bilbao.
53 minBilbao win a free kick out on the right touchline, and it's a chance for the visitors to get their big men forward from the back.
54 minThe ball is floated in by Herrera, but Godin solidly heads it clear for Atletico, and they look to break out.
56 minBilbao have impressed me with how they have kept hold of possession so well in this match so far. You would have predicted it to be title-chasing Atletico who are dominating possession and pinning back their opponents. But it's quite the other way around.
58 minCHANCE! First real effort on goal of the half comes from De Marcos, but his shot from 25 yards out bobbles wide of the left post.
59 minATLETICO CHANGE: Arda Turan is introduced by Simeone. He replaces Adrian Lopez, who hasn't been brilliant this evening.
63 minVita header from Iturraspe to nod a cross from the left clear of the box, with Garcia lurking in behind ready to pounce.
64 minGreat chance for Atletico to hit Bilbao on the break from a corner. It's two against two at the other end with Gabi in possession. Diego Costa makes the run, but Gabi's pass is awful and goes straight to the Bilbao man. Costa looks very annoyed.
66 minArda Turan, who is donning a stunning beard, brings the ball into the box for Atletico. He tries to wriggle around and create some space, but Bilbao are onto him like a rush and win a goal kick.
69 minOuch. Cristian Rodriguez leaps into the air to win a head, but goes flying over the top of Laporte and lands flat on his back. I think he will be ok, but he fell from some height. Impressive jump though, if that's any consolation.
72 minAnother corner from Atletico, another great delivery from Koke, and another waste by the hosts. Bilbao have barely had to try from these corners.
77 minYELLOW CARD: Silly booking to pick up for Arda Turan. Mikel Rico was going nowhere, yet the Turk pulled him back and picks up a stupid yellow.
78 minATLETICO CHANGE: Final switch for the home side, who are going for that second goal. David Villa is on, replacing Cristian Lopez.
80 minYELLOW CARD: Balenziaga is cautioned for tugging back Arda Turan.
81 minBILBAO CHANGE: Final alteration for the visitors, as Benat comes on for Herrera.
83 minMikel Rico lets fly from 25 yards out, but his bullet takes a touch off an Atletico player on it's way wide. Corner.
84 minBilbao are penalised for pushing inside the box from that corner, and Atletico have a free kick. Raul Garcia has a shot from the edge of the box, but drags it across the face of goal and wide.
88 minHerrerin makes a complete hash of coming to collect a Juanfran cross and spills it behind him. He gets away with it though, as Turan had given up on his run thinking that the keeper had caught it.
90 minThere will be three minutes of added time.
90+1 minYELLOW CARD: Gabi is booked for a foul on Mikel Rico, and it gives Bilbao a chance to smash the ball into the box. Big men are forward again.
90+2 minYELLOW CARD: Not a great moment from Bilbao. The free kick comes to nothing, Atletico are about to run it away with Godin, but he is chopped in half by Gurpegui.
90+3 minFULL TIME: Atletico Madrid 1-0 Athletic Bilbao
9.51pmSo no goals in the second half, meaning that this tie is still finely poised heading into the second leg.
9.52pmDiego Godin scored the only goal to win this match, but the tie is far from over as we make the trip to the Basque Country for the return leg.
9.54pmThat's all from me. I hope you enjoyed the match. Until next time, goodnight.