1986 Copa Libertadores

Qualified teams

Draw

The champions and runners-up of each football association were drawn into the same group along with another football association's participating teams. Three clubs from Argentina competed as Argentinos Juniors was champion of the 1985 Copa Libertadores. They entered the tournament in the Semifinals.

Group stage

Group 1

Group 2

Group 3

Group 4

Group 5

• The representatives of Venezuela, Estudiantes de Mérida and Unión Atlético Táchira, did not participate upon the Venezuelan Football Federation's suspension by FIFA.

Semifinals

Group 1

Tiebreaker

• River Plate qualify due to better goal difference in group. |-

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Group 2

Finals

Main article: 1986 Copa Libertadores Finals

1st leg

date= 1986-10-22 | team1= COL América de Cali | score= 1 – 2 | team2= River Plate ARG | report= | goals1 = Cabañas | goals2= Funes Alonso | stadium= Cali, Estadio Pascual Guerrero | attendance= | referee= | |}}

2nd leg

date= 1986-10-29 | team1= River Plate ARG | score= 1 – 0 | team2= COL América de Cali| report= | goals1= Funes | stadium= Buenos Aires, Estadio Monumental | attendance= | referee= | |}}

River Plate won 3–1 on aggregate.