| Tournament details | |
|---|---|
| Dates | March 18 – November 23 |
| Teams | 21 (from 10 associations) |
| Final positions | |
| Champions |  Flamengo (1st title) |
| Runners-up |  Cobreloa |
| Tournament statistics | |
| Matches played | 77 |
| Goals scored | 221 (2.87 per match) |
| Top scorer(s) | Zico (11 goals) |
The 1981 Copa Libertadores was won by Flamengo of Brazil, who beat Cobreloa of Chile in the finals.
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 Uruguay competed as Nacional was champion of the 1980 Copa Libertadores. They entered the tournament in the Semifinals.
| Group 1 | Group 2 | Group 3 | Group 4 | Group 5 |
|---|---|---|---|---|
| Pos | Team | Pld | W | D | L | GF | GA | GD | Pts | Qualification |  CALI |  RIV | CEN | JUN | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Deportivo Cali | 6 | 4 | 0 | 2 | 10 | 6 | +4 | 8 | Qualified to the Semi-Finals | — | 2–1 | 1–0 | 4–1 | |
| 2 | River Plate | 6 | 3 | 1 | 2 | 9 | 6 | +3 | 7 | 1–2 | — | 3–2 | 3–0 | ||
| 3 | Rosario Central | 6 | 3 | 0 | 3 | 11 | 7 | +4 | 6 | 2–1 | 0–1 | — | 5–0 | ||
| 4 | Junior | 6 | 1 | 1 | 4 | 3 | 14 | −11 | 3 | 1–0 | 0–0 | 1–2 | — |
| Pos | Team | Pld | W | D | L | GF | GA | GD | Pts | Qualification |  PEÑ | BVI |  EST | POR | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Peñarol | 6 | 5 | 1 | 0 | 13 | 3 | +10 | 11 | Qualified to the Semi-Finals | — | 3–1 | 4–2 | 3–0 | |
| 2 | Bella Vista | 6 | 4 | 1 | 1 | 16 | 5 | +11 | 9 | 0–0 | — | 3–1 | 4–0 | ||
| 3 | Estudiantes de Mérida | 6 | 0 | 2 | 4 | 5 | 14 | −9 | 2 | 0–2 | 1–4 | — | 1–1 | ||
| 4 | Portuguesa | 6 | 0 | 2 | 4 | 1 | 13 | −12 | 2 | 0–1 | 0–4 | 0–0 | — |
| Pos | Team | Pld | W | D | L | GF | GA | GD | Pts | Qualification | FLA | CAM |  CER | OLI | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Flamengo (A, O) | 6 | 2 | 4 | 0 | 14 | 9 | +5 | 8 | Qualified to the Semi-Finals | — | 2–2 | 5–2 | 1–1 | |
| 2 | Atlético Mineiro (A) | 6 | 2 | 4 | 0 | 8 | 6 | +2 | 8 | 2–2 | — | 2–2 | 1–0 | ||
| 3 | Cerro Porteño | 6 | 1 | 2 | 3 | 9 | 12 | −3 | 4 | 2–4 | 0–1 | — | 0–0 | ||
| 4 | Olimpia | 6 | 0 | 4 | 2 | 1 | 5 | −4 | 4 | 0–0 | 0–0 | 0–3 | — |
| 3 July 1981 | Atletico Mineiro | 2–2 | Flamengo | Mineirão, Belo Horizonte |
Éder  28', 63' | Nunes 65' Marinho 85' | Attendance: 63,153 Referee: José Roberto Wright (Brazil) |
| 7 July 1981 | Cerro Porteño | 0–0 | Olimpia | Estadio Defensores del Chaco, Asunción |
| 14 July 1981 | Flamengo | 5–2 | Cerro Porteño | Maracanã, Rio de Janeiro |
| Zico 20', 27' Baroninho 47'Nunes 62', 62' | Jimenes 62' Julio Dos Santos 90' | Attendance: 25,967 Referee: Carlos Montalvan (Brazil) |
| 17 July 1981 | Olimpia | 0–0 | Atletico Mineiro | Estadio Defensores del Chaco, Asunción |
| 21 July 1981 | Cerro Porteño | 0–1 | Atletico Mineiro | Estadio Defensores del Chaco, Asunción |
| 24 July 1981 | Flamengo | 1–1 | Olimpia | Maracanã, Rio de Janeiro |
| Adilio 22' | Solalinde 60' | Attendance: 38,718 Referee: Abel Gnecco |
| 28 July 1981 | Atletico Mineiro | 1–0 | Olimpia | Mineirão, Belo Horizonte |
| 31 July 1981 | Atletico Mineiro | 2–2 | Cerro Porteño | Mineirão, Belo Horizonte |
| 7 August 1981 | Flamengo | 2–2 | Atletico Mineiro | Maracanã, Rio de Janeiro |
| Nunes 67' Tita 69' | Palhinha 62' Reinaldo 69' | Attendance: 62,763 Referee: Carlos Rosa Martins |
| 8 August 1981 | Olimpia | 0–3 | Cerro Porteño | Estadio Defensores del Chaco, Asunción |
| 11 August 1981 | Cerro Porteño | 2–4 | Flamengo | Estadio Defensores del Chaco, Asunción |
| Acost 69' Jimenes 72' | Baroninho 7' Zico 58', 65', 70' | Attendance: 13,000 Referee: Roque Cerullo |
| 14 August 1981 | Olimpia | 0–0 | Flamengo | Estadio Defensores del Chaco, Asunción |
| Attendance: 25,000 Referee: José Martizez Bazan |
| First-place playoff match 21 August 1981 | Flamengo | 0–0 | Atlético Mineiro | Estádio Serra Dourada, Goiânia |
| Referee: José Roberto Wright |
| Pos | Team | Pld | W | D | L | GF | GA | GD | Pts | Qualification |  STR | WIL |  BAR | TEC | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | The Strongest | 6 | 4 | 0 | 2 | 13 | 9 | +4 | 8 | — | 2–0 | 1–0 | 4–2 | ||
| 2 | Jorge Wilstermann | 6 | 4 | 0 | 2 | 9 | 9 | 0 | 8 | Qualified to the Semi-Finals | 3–2 | — | 1–0 | 3–1 | |
| 3 | Barcelona | 6 | 3 | 0 | 3 | 8 | 8 | 0 | 6 | 2–1 | 3–0 | — | 2–1 | ||
| 4 | Técnico Universitário | 6 | 1 | 0 | 5 | 11 | 15 | −4 | 2 | 2–3 | 1–2 | 4–1 | — |
| Team 1 | Score | Team 2 |
|---|---|---|
| The Strongest | 1–4 | Jorge Wilstermann |
| Pos | Team | Pld | W | D | L | GF | GA | GD | Pts | Qualification | COB |  SPC | UCH | TOR | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Cobreloa | 6 | 3 | 3 | 0 | 14 | 3 | +11 | 9 | Qualified to the Semi-Finals | — | 6–1 | 1–0 | 6–1 | |
| 2 | Sporting Cristal | 6 | 3 | 2 | 1 | 9 | 11 | −2 | 8 | 0–0 | — | 3–2 | 2–1 | ||
| 3 | Universidad de Chile | 6 | 2 | 2 | 2 | 8 | 6 | +2 | 6 | 0–0 | 1–1 | — | 3–0 | ||
| 4 | Atlético Torino | 6 | 0 | 1 | 5 | 5 | 16 | −11 | 1 | 1–1 | 1–2 | 1–2 | — |
| Pos | Team | Pld | W | D | L | GF | GA | GD | Pts | Qualification | FLA | CAL | JOR | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Flamengo | 4 | 4 | 0 | 0 | 10 | 2 | +8 | 8 | Qualified to the Final | — | 3–0 | 4–1 | |
| 2 | Deportivo Cali | 4 | 1 | 1 | 2 | 2 | 5 | −3 | 3 | 0–1 | — | 1–0 | ||
| 3 | Jorge Wilstermann | 4 | 0 | 1 | 3 | 3 | 8 | −5 | 1 | 1–2 | 1–1 | — |
| 2 October 1981 | Deportivo Cali | 0–1 | Flamengo | Estadio Olímpico Pascual Guerrero, Cali |
| Nunes 1' | Attendance: 50,000 Referee: Mário Lira |
| 13 October 1981 | Jorge Wilstermann | 1–2 | Flamengo | Estadio Félix Capriles, Cochabamba |
| Melgar 53' | Baroninho 13' Adilio 64' | Referee: Enrique Labo |
| 16 October 1981 | Deportivo Cali | 1–0 | Jorge Wilstermann | Estadio Olímpico Pascual Guerrero, Cali |
| 23 October 1981 | Flamengo | 3–0 | Deportivo Cali | Maracanã, Rio de Janeiro |
| Zico 9', 82' Chiquinho Carioca 57' | Attendance: 28,847 Referee: Juan Cardelino |
| 27 October 1981 | Jorge Wilstermann | 1–1 | Deportivo Cali | Estadio Félix Capriles, Cochabamba |
| 30 October 1981 | Flamengo | 4–1 | Jorge Wilstermann | Maracanã, Rio de Janeiro |
| Nunes 9' Adilio 39'Anselmo 87'Chiquinho Carioca 90' | Tarborga 2' | Attendance: 7,520 Referee: Jorge Orellana |
| Pos | Team | Pld | W | D | L | GF | GA | GD | Pts | Qualification | COB | NAC | PEÑ | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Cobreloa | 4 | 3 | 1 | 0 | 9 | 5 | +4 | 7 | Qualified to the Final | — | 2–2 | 4–2 | |
| 2 | Nacional | 4 | 0 | 3 | 1 | 5 | 6 | −1 | 3 | 1–2 | — | 1–1 | ||
| 3 | Peñarol | 4 | 0 | 2 | 2 | 4 | 7 | −3 | 2 | 0–1 | 1–1 | — |
| 30 September 1981 | Peñarol | 1–1 | Nacional | Estadio Centenario, Montevideo |
| De la Peña | Vargas |
| 8 October 1981 | Nacional | 1–2 | Cobreloa | Estadio Centenario, Montevideo |
| Morales 49' | Puebla 62' Olivera 83' |
| 13 October 1981 | Peñarol | 0–1 | Cobreloa | Estadio Centenario, Montevideo |
| Olivera 89' |
| 21 October 1981 | Nacional | 1–1 | Peñarol | Estadio Centenario, Montevideo |
| Chiquinho 57' |
| 28 October 1981 | Cobreloa | 4–2 | Peñarol | Estadio Municipal, Calama |
| Gómez 1' Merello 30'66' (P.K.)Muñoz 68' | Paz P.K.' Vargas |
| 4 November 1981 | Cobreloa | 2–2 | Nacional | Estadio Municipal, Calama |
| Zico 9', 82' |
| 13 November 1981 | Flamengo | 2–1 | Cobreloa | Maracanã, Rio de Janeiro |
| Zico 12', 30' (pen.) | Merello 65' | Attendance: 93,985 Referee: Esposito (Argentina) |
| 20 November 1981 | Cobreloa | 1–0 | Flamengo | Estadio Nacional, Santiago |
| Merello 84' | Attendance: 61,721 Referee: Ramón Barreto (Uruguay) |
| 23 November 1981 | Flamengo | 2–0 (4–2 agg.) | Cobreloa | Estadio Centenario, Montevideo |
| Zico 18', 84' | Attendance: 30,200 Referee: Roque Cerullo (Uruguay) |
         Flamengo |    Cobreloa |
|
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Man of the Match:
Assistant referees:
Juan Cardelino Ramón Barreto
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