Rather than hand over the throne to Crown Prince Felipe, to be known as King Felipe VI, protesters demanded a referendum on the very survival of the institution.
Late into the night after the king's abdication announcement yesterday, thousands of people filled Madrid's central Puerta del Sol square as rallies were called in major cities around the country.
Protesters filled the square and police closed access to the royal palace just a short walk away from the demonstration.
"I think now would be a good time to proclaim a republic," said Paola Torija, a 24-year-old therapist for the disabled, following the king's abdication announcement.
"He had his moment of glory but today it is a bit archaic, a bit useless, an extra cost especially in the crisis we are living in," she said.
Republican sentiment remains widespread in Spain, which only restored the monarchy in 1975 after the death of General Francisco Franco, who had ruled for four decades.
But many Spaniards were angered when they discovered the king took a luxury African elephant-hunting safari in 2012 while they suffered at home from a crisis that left one in four people unemployed.
Resentment grew as the king's elder daughter Cristina was formally named a suspect in a judicial investigation into her husband Inaki Urdangarin's allegedly corrupt business practices.
In a study by pollster Sigma Dos published in January 2014, support for the king fell to 41 percent while those wanting him to abdicate in favour of Felipe surged to 62 percent.
Three small leftist parties - Podemos, United Left and the Equo green party which together won 20 percent of the vote in May 25 elections for seats in the European Parliament - called for a referendum on the monarchy.
"I am here because I want to elect my head of state," said 25-year-old Complutense University sociology student Daniel Martin.
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