[1][2][3] The final was contested by Brazilian side Santos and Peñarol of Uruguay, a historic repeat of the 1962 finals disputed by legendary players such as Pelé, Alberto Spencer, Gilmar, Juan Joya, Mauro, José Sasía, Mengálvio, Pedro Rocha, Coutinho, Juan Lezcano, and Pepe, with Lula coaching the Santistas and Béla Guttmann directing the Carboneros.

To reach the final, in the knockout phase Santos beat América, Once Caldas and lastly Cerro Porteño, while Peñarol dethroned defending champion Internacional, beat Universidad Católica and overcame Vélez Sársfield.

The winners would earn the right to represent CONMEBOL at the 2011 FIFA Club World Cup, entering at the semifinal stage.

The team that accumulates the most points —three for a win, one for a draw, zero for a loss— after the two legs is crowned the champion.

[6] Man of the Match: Durval (Santos) Linesmans:[7] Nicolás Yegros (Paraguay) Rodney Aquino (Paraguay) Fourth official: Antonio Arias (Paraguay) Man of the Match: Arouca (Santos) Linesmans:[7] Ricardo Casas (Argentina) Hernán Maidana (Argentina) Fourth official: Juan Pompei (Argentina)