The Austria international has recently been unavailable for selection due to an adductor problem, missing his side's final five La Liga matches of the 2021-22 campaign.
Meanwhile, the 29-year-old was an unused substitute for the second leg of Real Madrid's Champions League semi-final second leg with Manchester City on May 4.
Alaba has been in full training ahead of the final, though, and he will feature in the middle of the Spanish outfit's back four alongside Eder Militao.
Casemiro will operate as the holding midfielder, with Modric and Kroos looking to influence proceedings further forward, and there is a fourth midfielder in the side in the shape of Federico Valverde.
The Uruguay international has been vital for Real Madrid in the knockout round of this season's competition, largely operating on the right of a front three, and he will again feature in that area for this match.
Karim Benzema, meanwhile, has scored 44 goals and registered 15 assists in 45 appearances during an excellent campaign at club level, and the France international leads the line.
The final spot in the starting XI goes to Vinicius Junior, with the 21-year-old scoring 21 goals and registering 20 assists in 51 appearances for Los Blancos during an impressive campaign.
There is a position on the bench for Rodrygo, who has been vital for Real Madrid in the knockout round of this season's Champions League, scoring against Chelsea in the quarter-finals and twice against Manchester City in the semi-finals.
Gareth Bale is also on the bench, with the Wales international looking to make his mark on what would be his final appearance for the club.
Eden Hazard has also recovered from a leg operation, with the Belgian recently featuring against Cadiz in La Liga, and he could be involved at some stage of the contest.
REAL MADRID: Courtois; Carvajal, Militao, Alaba, Mendy; Modric, Casemiro, Kroos; Valverde, Benzema, Vinicius
Bench: Lunin; Marcelo, Nacho; Ceballos, Camavinga, Isco; Lucas, Hazard, Asensio, Bale; Rodrygo, Mariano