The tournament, which returned after a four-year hiatus having been temporarily discontinued since 2012, was held in the cities of Asunción and Luque, Paraguay, from 30 January to 14 February 2016.

[1] The competition was contested by 12 teams: the title holder, the champion club from each of the ten CONMEBOL member associations, and one additional team from the host association Paraguay.

However, each team may include a maximum of five players born on or after 1 January 1995.

[2] The tournament was played in four venues in two cities, all in the Metropolitan Area of Asunción:[3] The draw of the tournament was held on 15 January 2016, 12:00 local time, at the headquarters of the Paraguayan Football Association in Asunción.

The two teams from Paraguay (Cerro Porteño and Libertad) and the title holder (River Plate) were seeded.