It was the 24th time the tournament was held and took place in Venezuela from 19 January to 8 February.

It also served as qualification for the 2009 FIFA U-20 World Cup.

Brazil won the tournament, becoming champions for the tenth time.

The tournament was initially hosted in Peru, however following FIFA sanctions over Peruvian Government's investigation of the FPF's corruption, it was moved to Venezuela.

(*) Colombia qualified to the following round after winning a coin toss