[7] Defending champions Palmeiras won their third Copa Libertadores title after beating fellow Brazilian club Flamengo by a 2–1 score after extra time in the final match.

The following 47 teams from the 10 CONMEBOL member associations qualified for the tournament:[9] The entry stage is determined as follows:[9] The schedule of the competition will be as follows:[25][26] On 4 February 2021, CONMEBOL announced a rescheduling for the qualifying stages.

[27] The draw for the qualifying stages was held on 5 February 2021, 12:00 PYST (UTC−3), at the CONMEBOL Convention Centre in Luque, Paraguay.

The draw for the group stage was held on 9 April 2021, 12:00 PYT (UTC−4), at the CONMEBOL Convention Centre in Luque, Paraguay.

The draw for the round of 16 was held on 1 June 2021, 12:00 PYT (UTC−4), at the CONMEBOL Convention Center in Luque, Paraguay.

If still tied, extra time will not be played, and a penalty shoot-out will be used to determine the winner (Regulations Article 2.4.3).

Source: CONMEBOL.com The CONMEBOL technical study group selected the following 11 players as the team of the tournament.