After a year of living with the COVID-19 pandemic and its associated consequences, hope looms on the horizon thanks to vaccines. The question is what percentage of the population needs to be immune to reach herd immunity, that is to avoid future outbreaks. The answer depends on the basic reproductive number, R0, a key epidemiological parameter measuring the transmission capacity of a disease. Besides the virus itself, R0 depends on the characteristics of the population and their environment. Additionally, the estimate of R0 depends on the methodology used, the accuracy of data, and the generation time distribution. The aim of this study is to provide a herd immunity threshold for Spain, for which we considered the different combinations of these elements to obtain the R0 for the Spanish population. Estimates of R0 range from 1.39 to 3.10, with the largest differences produced by the choice of the methodology to estimate R0. With these values, the herd immunity threshold ranges from 28.1–67.7%, which makes 70% a realistic upper bound for Spain.