The charming snap, taken during a June photoshoot in the gardens of the Zarzuela Palace, is seven-year-old Leonor's first official photo.
It puts the focus firmly on the future, a trend which can be seen in royal houses elsewhere in Europe at the moment.
Britiain is the perfect example of this. Queen Elizabeth II gave the future monarchs – Prince Charles and Prince William – and their wives the Duchesses of Cornwall and Cambridge key roles in the Diamond Jubilee celebrations.
The photo of little Leonor can be seen on the new website of the Spanish monarchy.
"The launch of my family's new website gives me the chance to send greetings to everyone who follows us on the web," wrote King Juan Carlos in a letter of introduction on the new webpage (www.casareal.es).
Eighteen months in the making, the new site has an impressive 12,000 photos, 3,000 speeches and extensive biographies of family members.
And of course, it has the latest news and photos of the family's current events.
The project marks the start of a new chapter for the royals, and it corresponds with the happy event of Princess Letizia's 40th birthday, which falls on September 15.
It also coincides with the return of the Infanta Cristina and her husband Iñaki Urdangarin to Barcelona from the US, where they have been residing.
He is due to face corruption charges relating to his time at the non profit Instituto Noos.
But the website hopefully signals a change in fortunes for the family, after a difficult few months.
Earlier this year the royal patriarch had to be flown back to Spain for an emergency hip operation after falling on a hunting trip to Botswana.
His 13-year-old grandson Felipe Juan Froilan also accidentally shot himself in the foot while handling a gun.