Simeone was hit with the penalty for having charged onto the pitch at the end of the match during a verbal clash with Real's French defender Raphael Varane.
He will be banned from the bench for Atletico's next European match, which will come at the beginning of the 2014-15 Champions League group stage in September.
Real beat their arch-rivals 4-1 after extra time in the May 24 final in Lisbon, and Uefa opened a disciplinary probe in the wake of the game.
Xabi Alonso was sanctioned for misconduct, and will serve his suspension during the Uefa Super Cup final between Madrid and Europa League winners Sevilla on August 12 in Cardiff, Uefa said.
In addition, Atletico and Real were each fined for improper team conduct – a penalty faced by teams who receive five or more cards during matches.
Real picked up five, thereby receiving a fine of €18 000, while Atletico's seven cards led to a penalty of €21 000.
The fines also sanctioned the behaviour of both clubs' fans, who set off fireworks in the stadium.
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