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With the game seemingly heading for a draw after Jan Oblak frustrated the relegation-battling hosts, Alvarez managed to snatch a late victory to see Diego Simeone's side move up to third in LaLiga after Villarreal's defeat to Barcelona earlier in the day.

Oviedo, which is eight points from safety at the bottom of LaLiga, started on the front foot as Federico Vilnas tested Oblak early on before heading wide of the target from just close range, with Atleti struggling to find its rhythm.

The hosts twice went close to breaking the deadlock in first-half stoppage-time, with Oblak turning Ilyas Chaira's initial attempt around the post and then saving Alberto Reina's eventual effort from the resulting corner.

Atleti looked like a different team at the start of the second half, when Alvarez came on for Ademola Lookman, but Vinas continued to cause problems for the Atleti defenders at the other end.

Neither side was happy to settle for a point, which led to an eventful ending. Alex Baena saw a goal ruled out for offside in the 86th minute, while Vinas's header from a Santi Cazorla corner was caught by Oblak.

Alvarez then decided the match, showing great composure to cut inside past Kwasi Sibo and fire in at the near post in the final minute of stoppage-time to give Atleti all three points.

Although Alvarez will take most of the headlines with his late winner, it was Oblak who provided a crucial performance for Atleti. His six saves kept it from going behind before the Argentinian's stoppage-time strike.