The 21-year-old midfielder danced past Thiago Alcantara, sliced through Javi Martinez and made Xabi Alonso look silly before expertly stroking the ball past Manuel Neuer while under pressure from David Alaba and Arturo Vidal.
The goal was a thing of beauty which gave Atletico a hard-fought 1-0 victory over the German giants and prompted praise from proud manager Diego Simeone.
"It was a great piece of individual skill and creativity," said the Argentine.
"He is a player who is developing well, and has been great for us."
The goal was Saul's third in the Champions League this season, taking his overall season tally to nine for Atleti who will travel to Munich to take on Bayern at the Allianz Arena in the return bout next Tuesday.