The 2012 U-20 Copa Libertadores (known as the 2012 Copa Movistar Libertadores Sub-20 for sponsorship reasons) was the second edition of this U-20 club competition.

Players born on or after 1 January 1992 were eligible to compete.

[1] In addition to the three clubs of the host nation, nine clubs qualified from the remaining nine football associations of CONMEBOL.

The winners and runners-up from each group advanced to the quarterfinals.

No extra time, if two teams tied after 90 minutes then there is a penalty shoot-out.