The tournament was held in Caracas, Venezuela between 21–28 May 2023,[1][2] with Brazilian team Cascavel taking the title for the second time in a row.

[25] The draw of the tournament will be held on 28 April 2023, 12:00 PYT (UTC−4), at the CONMEBOL headquarters in Luque, Paraguay.

[26][27] The draw was conducted based on Regulations Article 16 as follows:[4] Initially, three teams were seeded and assigned to the head of the groups (Cascavel automatically to Group A, the others two via a draw from pot 1): The remaining nine teams were split into three pots of three based on the final placement of their national association's club in the previous edition of the championship, with the highest three (Uruguay, Argentina and Paraguay) placed in Pot 2, the next three (Peru, Ecuador and Colombia) placed in Pot 3 and the lowest two (Bolivia and Chile) in pot 4, alongside the additional Venezuelan team.

[28] The draw resulted in the following groups:[29] Each team had to enter a squad of a maximum of 14 and a minimum of 9 players, including at least two goalkeepers (Regulations Article 48).

If tied on points, tiebreakers are applied in the following order (Regulations Article 21):[4] All match times are in VET (UTC−4), as listed by CONMEBOL.