Germany, which was eliminated from the 2011 Women's World Cup on home soil in the quarterfinals by eventual champ Japan, gained a measure of revenge by beating it 4-3 in the Algarve Cup final. The result means that the 2012 London Olympics women's soccer competition will be missing the champion from the Algarve Cup, the most prestigious women's invitational tournament in the world. The loss to Japan at the World Cup had also eliminated Germany from the Olympics.

Celia Okoyino da Mbabi, who scored a hat trick in the 4-0 semifinal win over Sweden, hit another hat trick in the final. Japan, which beat the USA in a penalty-kick tiebreaker in the World Cup final and 1-0 in the Algarve Cup semifinal, was without 2011 World Cup MVP Homare Sawa in the Algarve semifinal and final because of illness.

The USA, which finished third, missed the Algarve final for the first time since 2002.