The seventh edition of the South American Championship was held in Montevideo, Uruguay from 29 October to 2 December 1923.

The participating countries were Argentina, Brazil, Paraguay and Uruguay.

Chile withdrew for the second time since the tournament was created.

The tournament was also used as a qualifier for the 1924 Summer Olympics.

For a complete list of participants squads see: 1923 South American Championship squads Each team played one match against each of the other teams.