Private Transfers
To avoid any hassle with taxis or on the metro (see below) it's a good idea to pre-book Madrid airport transfers by private chauffeured car or minibus. 

On arrival your driver will meet you in the arrivals lounge and transfer you in a modern air conditioned vehicle to your destination.  This service is available for transfers to the city centre as well as transfers further afield such as to Toledo.

Metro
Line 8 of the Metro links the airport with the centre of Madrid at Nuevos Ministerios in just 12 minutes. The stop is on the first floor of terminal 2 and the service operates between 6.05am and 2.00am with departures every 5 minutes.

On arrival at Nuevos Ministerios there is a connection with over 50 other stations via lines 6 (circle), 8 (Nuevos Ministerio-Barajas) and 10 (Fuencarral-Puerta del Sur).

Once in the city the extensive metro network can be safely used for travel beyond the central area. To get the right direction look for the name of the last stop on the line you are using, eg. to go north on line 10 look for dark blue signs for Fuencarral. To go south on line 10 look for dark blue signs for Aluche. The 10 journey ticket costs about ? 5.80 and is also valid on all city bus routes.

Airport Bus
The long standing special airport bus service from the airport to Plaza Colón no longer operates and has been replaced by regular bus services as follows:

No. 101 line from Canillejas-Airport (T1, T2, T3).
No. 200 line from Avda. de América-Canillejas-Airport (T1, T2, T3).
No. 204 line from Avda. de América-Canillejas-Airport (T4).
Intercity line no. 822 Coslada-Airport-Canillejas-Airport (T1, T2, T3).
There is a special bus service from Barajas Metro (Underground) station to T4.

From Avda. de América or Canillejas you would need to join up with the metro to continue your journey. The excellent metro service has taken over from the old bus route as the best way into the city (just watch your valuables!).

Taxis to/from the airport
There are taxi ranks in front of the arrivals lounges of all three terminals at Madrid airport.  A taxi to/from the airport to/from central Madrid should cost around 20 Euros though taxi drivers are notorious for overcharging recent arrivals (see below). Check that the meter is set at zero when you get in and that it begins the journey at the official minimum fare. There are also additional supplements at night, on Sundays and for journeys to bus and train stations and to the IFEMA trade fair. There should no longer be a charge for items of luggage placed in the car boot. If in doubt about the charge be sure to request a receipt.

Train
The Spanish Railway Network (www.renfe.es) does not go to Madrid-Barajas airport directly. However, you can connect to the airport by using the the underground in Atocha or Chamartin railway stations.