The 1992 Copa CONMEBOL Finals were the final two-legged series that decided the winner of 1992 Copa CONMEBOL, the first edition of this international competition.

The finals were contested by Clube Atlético Mineiro of Brazil and Club Olimpia of Paraguay.

The matches were held at the Mineirão, in Belo Horizonte, and at Estadio Manuel Ferreira, in Asunción.

Atlético Mineiro won the tie 2–1 to claim its first title in the competition, and qualified for the 1993 Copa de Oro and the 1993 Copa CONMEBOL through its victory.

Note: In all scores below, the score of the home team is given first.