More than £800,000 was raised for charity as 60,000 fans packed Old Trafford to watch legends from Manchester United and Real Madrid go head to head.
After an opening ceremony featuring 200 volunteer dancers, a pre-match concert from pop stars Amelia Lily, Tinchy Stryder and JLS warmed up the crowd ahead of the game.
X Factor finalist Amelia Lily opened the concert and commented on the "incredible" atmosphere inside Old Trafford.
Rapper and United fan Tinchy Stryder was thrilled to play at his team's home ground and, in one of their last appearances before their farewell tour, JLS performed some of their hit singles for fans.
United's former 'Captain Marvel' Bryan Robson managed a team of former Manchester United legends including Edwin van der Sar, Ruud van Nistelrooy, Jaap Stam and the recently retired Paul Scholes.
Real Madrid responded by fielding a strong team for the match, which included Luis Figo, Claude Makelele and three-times World Player of the Year Zinedine Zidane.
All proceeds from the Red Heart United match will go to the Manchester United Foundation and will help fund projects that benefit young people in disadvantaged areas of Greater Manchester.
Unlike a testimonial, the game was played with like a true competitive match, with United attempting to overhaul a 3-2 deficit from the first leg at the Bernabeu stadium in Madrid.
Although Zidane fluffed his first kick of the ball, it did not take the Frenchman long to find his touch and provide fans with a tantalising dual with Scholes.
It was Claude Makelele, however, who linked up with Zidane to pave the way for Fernando Morientes to strike the opener for Madrid.
As the second half began former United and Madrid striker van Nistelrooy switched sides to join the Reds.
And it didn't take long for him to make an impact for United, levelling the score after latching on to Dwight Yorke's pass and smashing the ball past Carlos Sanchez in the Madrid goal.
But it was Madrid that emerged victorious as Ruben de la Red chipped United's substitute goalkepper Raimond van der Gouw to seal a 2-1 win (5-3 on aggregate) for Real.
United goalscorer van Nistelrooy said: "It was fantastic to score again today at Old Trafford, I really looked forward to coming back here and my first time back, to score a goal, it is always a fantastic feeling and it was the same today.
"The reception from the crowd was fantastic, I left quickly and didn't have the chance to say goodbye so it was great to be back here now and go onto the pitch to thank the fans, the reception was a big, big bonus."
Manchester United's chief executive David Gill said: "I'm very proud of what we've achieved. It was a fabulous day and I'd like to say a massive thank you to all the fans who have supported this event. We have raised over £800,000 for the Foundation which will be put to great use in the community."