Actress Carmen Maura and Pedro Almodovar reunited for the film

One thousand special guests including some of the lead actresses were at the event in Puertollano.

Volver (Return) is the story of a rural Spanish family's move to Madrid and features Penelope Cruz.

Almodovar's All About My Mother won the Academy Award for best foreign language film in 1999, and Talk To Her (2002) won him best original screenplay.

'Indiana Jones'

Volver also features Spanish actress Carmen Maura, who like Cruz has starred in Almodovar's previous films.

Maura and Almodovar last worked together on 1987's Women On The Verge of a Nervous Breakdown.

Cruz, who has gone on to become a Hollywood star, previously appeared in Live Flesh and All About My Mother.

The film, which finished production in October, is due to be released in Spain on 17 March and begin screening in the US on 23 June.

It heavily features the Spanish region of La Mancha where Almodovar grew up, and has been described by him as "almost an Indiana Jones of a family's domestic adventures".

Last year, the 54-year-old quit the Spanish Film Academy in a row of voting procedures and how Spain's candidate for the Oscars was chosen.