Hungary rode a wave of early stress from Portugal from the Group F struggle but and had a goal ruled out for offside shortly before Portugal's Raphael Guerreiro broke the deadlock in the opposite end using a deflected effort in the 84th minute.
Captain Ronaldo secured the win by lashing home from the penalty spot from the 87th to proceed of Michel Platini as the all-time high scorer at the finals on 10 goals, which he quickly turned to 11 by dribbling the ball to the web in additional time.
The two sides had drawn 3-3 in one of the greatest games of Euro 2016 and although there were fewer goals this time around the match was no less persuasive since the vociferous locals filled the Puskas Arena to power.
The activity on the pitch mirrored that the fervour from the stands because Portugal played with real strength, playing a direct game and hitting their entrance three with quick, long moves.
Ronaldo was abandoned only blaming himself in the first half however when he uncharacteristically missed the goal from close range after an incisive cross from Bruno Fernandes.
Hungary did small attacking but pressed energetically to limit Portugal's space.
Striker Adam Szalai was their danger man, heading a free kick to the arms of Rui Patricio shortly before halftime then testing the keeper early in the second half with an effort from beyond the box.
Portugal's veteran defender Pepe nearly scored at the onset of the second half, his header from a Fernandes corner steered off by the ever-alert Gulacsi, who turned away a hit from Fernandes.
Hungary replacement Szabolcs Schon set the scene alight in the 80th minute when his shot squirmed past Patricio but the linesman's flag was immediately raised to puncture the parties.
Guerreiro shortly brought the hosts more pain as his scuffed shot trickled to the far bottom corner off the foot of Hungary defender Willi Orban, that moments later fouled Rafa Silva to allow Ronaldo to compensate for his earlier score and miss from the spot.
Ronaldo then united with Silva to calmly dance past Gulacsi and round off a day of documents after becoming the only player to include five European championships and to play the most matches in the tournament.