The Copa Libertadores 1974 was the 15th edition of the Copa Libertadores, CONMEBOL's annual international club tournament.

Defending champions Independiente won the competition, bagging their third consecutive title.

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 Independiente was champion of the 1973 Copa Libertadores.

Replay match at Estadio Nacional in Santiago, Chile.