Despite conceding a header from Mallorca defender Matija Nastasic in the 19th minute, Atletico regrouped and dominated the game, creating several scoring opportunities.
In-form striker Antoine Griezmann was the driving force behind the team's impressive display, and Rodrigo de Paul, Alvaro Morata, and Yannick Carrasco scored the goals that sealed the victory.
The win propelled Atletico Madrid to 63 points, just two points behind their second-placed city rivals Real Madrid, who lost 4-2 to Girona on Tuesday. Barcelona is currently at the top of the table with 76 points, and they had the chance to extend their lead when they faced Rayo Vallecano later on Wednesday.
Atletico Madrid celebrated their 120th anniversary in style, playing in a nearly sold-out Metropolitano stadium and wearing a blue and white kit inspired by the one they used in their first match in 1903.
Speaking after the match, Atletico's captain Koke hailed his team's resilience, saying that they had put the icing on the cake with the win. He added that while they had not been able to beat Barcelona, they were determined to finish the season as high as possible.
With seven games to play, the race for the LaLiga title is heating up, and Atletico Madrid is firmly in the mix.