The beautiful actress has been keeping a low profile over the past few months but she made a stunning return to the public eye in a form-fitting black gown at a screening of The Counsellor in London on Thursday evening (3 October).
And don't even get us started on that fabulously glossy hair…
Penelope welcomed her second child, daughter Luna, with actor husband Javier Bardem on 22 July - the same day as Kate Middleton!
The couple are already parents to son Leo, two.
Javier also appears in the film and was at last night's event, but chose to walk the carpet with actor pal and co-star Michael Fassbender, allowing Penelope the full spotlight.
However, the new parents were spotted later in the evening holding hands in Leicester Square as they left the event, held at Odeon West End.
The Counsellor, directed by Ridley Scott, revolves around a lawyer who gets caught up in the seedy world of drug trafficking, meeting a string of questionable individuals along the way. It's released in cinemas here on 15 November.
Meanwhile, Penelope has just been named the new spokesmodel for Lancome's Tresor Lumineuse fragrance, working with Chicago director Rob Marshall on the commercial.
Check out more celebrities who welcomed babies this year:
Copyright: Love & Lust London