The 2006 Madrid Masters (also known as the Mutua Madrileña Masters Madrid for sponsorship reasons) was a tennis tournament played on indoor hard courts. It is the 5th edition of the Madrid Masters, and is part of the ATP Masters Series of the 2006 ATP Tour. It took place at the Madrid Arena in Madrid, Spain, from October 16 through October 23, 2006.
Bob Bryan and Mike Bryan were the defending champions, and won in the final 6–3, 7–6(7–4), against Mariusz Fyrstenberg and Marcin Matkowski.
A champion seed is indicated in bold text while text in italics indicates the round in which that seed was eliminated.