A waterproof and vapor-permeable shoe, including: an upper assembly, which is composed of at least one upper and a waterproof and vapor-permeable functional layer internal thereto, a tread portion joined to the upper assembly below the upper assembly, at least one vapor permeation layer provided below the foot insertion space formed inside the shoe. At least one opening is provided lateral with respect to the shoe proximate to a region of connection of the upper assembly to the tread portion, the at least one opening being open toward a perimetric edge of the at least one vapor permeation layer. The shoe further includes, interposed between the perimetric edge and the at least one opening, selectively: at least one waterproof and vapor-permeable functional element, at least one functional portion of the functional layer.