Colombian team Santa Fe qualified to play in the 2016 Copa Libertadores, the 2016 Recopa Sudamericana, and the 2016 Suruga Bank Championship,[2] after winning the final against Argentinian team Huracán 3–1 on penalties (0–0 on aggregate after extra time).

The following 47 teams from the 10 CONMEBOL associations qualified for the tournament: The entry stage is determined as follows: The draw of the tournament was held on July 16, 2015, at the CONMEBOL Convention Centre in Luque, Paraguay.

If still tied, the penalty shoot-out was used to determine the winner (no extra time was played).

The finals were played on a home-and-away two-legged basis, with the higher-seeded team hosting the second leg.

If tied on aggregate, the away goals rule would not be used, and 30 minutes of extra time would be played.