1992 Copa Libertadores
The 1992 Copa Libertadores was the 33rd edition of the Copa Libertadores, CONMEBOL's annual international club tournament. São Paulo won the competition.
The participating teams were divided into five groups, in which teams of the same country were placed in the same group. Each country was represented by two teams. The countries were paired as follows:
- Group 1: Argentina and Chile
- Group 2: Bolivia and Brazil
- Group 3: Ecuador and Venezuela
- Group 4: Colombia and Peru
- Group 5: Paraguay and Uruguay.
Group stage
Group 1
, as the previous year champions, should join the competition only in the Round of 16, but they requested to start the competition in the group stage, due to financial reasons, thus five clubs participated in this group.| Team | Pts | Pld | W | D | L | GF | GA | GD |
 Newell's Old Boys | 11 | 8 | 4 | 3 | 1 | 11 | 10 | 1 |
 Universidad Católica | 9 | 8 | 2 | 5 | 1 | 15 | 8 | 7 |
| San Lorenzo | 9 | 8 | 4 | 1 | 3 | 13 | 8 | 5 |
| Colo-Colo | 8 | 8 | 2 | 4 | 2 | 6 | 7 | -1 |
| Coquimbo Unido | 3 | 8 | 1 | 1 | 6 | 6 | 18 | -12 |
Group 2
Group 3
- As Marítimo and Universidad de Los Andes finished with the same number of points, a playoff to define the third-placed team was played. Marítimo beat Universidad de Los Andes and qualified to the Round of 16.
- third-place playoff
Group 4
Group 5
Knockout stage
Finals
First leg
Second leg
| Copa Libertadores 1992 Winner |
 São Paulo First Title |