Originally scheduled to be held in Montevideo,[1] on 15 April 2023 it was announced that the final would be played at Estadio Centenario,[2] however the match was confirmed to have been moved to Estadio Domingo Burgueño in Maldonado on 15 September 2023.

On 19 December 2022, CONMEBOL announced format changes to the Copa Sudamericana starting from this edition while maintaining the same number of matches to be played.

The following changes were implemented:[5] The following 44 teams from the 10 CONMEBOL associations qualified for the tournament:[6] The entry stage is determined as follows:[7] A further 12 teams eliminated from the 2023 Copa Libertadores were transferred to the Copa Sudamericana, entering the group stage and the knockout round play-offs.

The schedule of the competition was as follows:[19][20][21] The draw for the first stage was held on 21 December 2022, 12:00 PYST (UTC−3), at the CONMEBOL Convention Centre in Luque, Paraguay.

The draw for the group stage was held on 27 March 2023, 20:00 PYT (UTC−4), at the CONMEBOL Convention Centre in Luque, Paraguay.

The draw for the round of 16 was held on 5 July 2023, 12:00 PYT (UTC−4) at the CONMEBOL Convention Center in Luque, Paraguay.

[5] If tied after 90 minutes, extra time would not be played, and a penalty shoot-out would be used to determine the winner (Regulations Article 2.4.2).