Decked in red and white outfits, the runners set off to a flurry of fake snow along the Paseo de la Castellana, a major boulevard through the city center.
"Everything that we do for that place (La Palma) is not enough," said 40-years-old military emergency unit (UME) member Abel San Perez.
In La Palma thousands of people have been evacuated, at least 2,910 buildings have been destroyed and the island's economically vital banana plantations have been devastated due to Cumbre Vieja eruption.
Some runners swapped Santa's traditional red trousers for more sporty shorts, while many wore face masks.
The Cumbre Vieja volcano began spewing streams of molten lava in September, but scientists said last week the eruption could be coming to an end.