The 1982 Copa Libertadores de América finals was the final two-legged tie to determine the champion of the 1982 edition.

The first leg of the tie was played on 26 November at Estadio Centenario (used by Peñarol as its home venue by then) with the second leg played on 30 November at Estadio Nacional in Santiago.

[1] Peñarol won the series by 1–0 on aggregate, achieving their 4th Copa Libertadores title.

The team that accumulated the most points —two for a win, one for a draw, zero for a loss— after the two legs was to be crowned the champion.

If the two teams were tied on points after the second leg, a playoff at a neutral venue would become the next tie-breaker.