The Manchester City man scored both of his side's goals in the semi-final win over Italy but limped off after 49 minutes in a worrying sight for Roja supporters and Luis Enrique.
Torres's absence would be all the more painful with no Alvaro Morata available, but the striker brushed off any concerns of a serious injury after the game and is expected to be fine for Sunday.
Barcelona's teenage protege Gavi earned his first cap for the national team in the semi-final and lasted 83 minutes of the contest, with the 17-year-old hoping to form part of an unchanged midfield with Koke and Sergio Busquets.
Aymeric Laporte, Pau Torres and Cesar Azpilicueta are shoo-ins to feature in defence, while Marcos Alonso will hope to edge out Sergio Reguilon for another start at left-back as Unai Simon keeps David de Gea waiting for his chance in goal.
Spain possible starting lineup: Simon; Azpilicueta, Laporte, P. Torres, Alonso; Koke, Busquets, Gavi; Sarabia, Torres, Oyarzabal