The performance of an earthquake early warning system (EEWS) for southern Iberia during the period of 2016–2019 is analyzed. The software PRESTo (PRobabilistic and Evolutionary early warning SysTem; the University of Naples Federico II, Italy) operating at the Universidad Complutense de Madrid has detected 728 events (2 < Mw < 6.3), with 680 earthquakes occurring in southern Iberia. Differences between the EEWS origin time and epicenter and those of the Instituto Geográfico Nacional (IGN) catalog are less than 2 s and 20 km, respectively, for 70% of the detected earthquakes. The main differences correspond to the EEWS magnitude that is underestimated for earthquakes that occurred at the west of the Gibraltar Strait (Mw differences larger than 0.3 for 70%). To solve this problem, several relationships have been tested, and a modification to those that currently use PRESTo is proposed. Other improvements, such as to densify the network or to use 3D Earth models, are proposed to decrease the time needed to issue the alert and avoid the false alerts (19 events over a total of 728 events). The EEWS has estimated the depth for 680 events and compared to those from the IGN (491 events). The performance of PRESTo during the 2020–2021 Granada swarm is analyzed. The hypocentral locations for the three largest earthquakes are close to those from the IGN (differences from 1 to 7 km for the epicenter and 0 s for the time origin), although there are some differences in their magnitude estimations that varies from 0.2 to 0.5. The PRESTo first times are 17, 25, and 41 s after the origin time. This study shows that the actual PRESTo EEWS configured for the southern Iberia may generate effective warnings despite the low seismicity rate in this region. To decrease the warning time, the geometry and density of the seismic network must be improved together with the use of 3D Earth models and on-site system approaches.