The eleventh edition of the South American Championship was held in Lima, Peru from 30 October to 27 November 1927.

The participating countries were Argentina, Bolivia, Peru, and Uruguay.

The tournament was also used as a qualifier for the 1928 Summer Olympics and both Argentina and Uruguay were subsequently invited to enter that competition.

[1] The Argentina team departed from Retiro railway station to Chilean city Valparaíso, where they joined Uruguayan players to board a ship to the port of Callao, Lima.

[2] For a complete list of participants squads see: 1927 South American Championship squads Each team played a single match against each of the other teams.