[1] On 7 October 2024, Alejandro Domínguez, president of CONMEBOL, announced that Estadio General Pablo Rojas, also known as "La Nueva Olla", will host the final match.

[2] Argentine club Racing were the champions, winning their first title in the competition after defeating Brazilian side Cruzeiro 3–1 in the final.

LDU Quito were the titleholders, defending their title after placing third in their Copa Libertadores group, but they were eliminated by Lanús in the round of 16.

The schedule of the competition was as follows:[17][18] The draw for the first stage was held on 19 December 2023, 12:00 PYST (UTC−3), at the CONMEBOL Convention Centre in Luque, Paraguay.

[23] The draw for the group stage was held on 18 March 2024, 20:00 PYST (UTC−3), at the CONMEBOL Convention Centre in Luque, Paraguay.

[6] In the first stage, each tie was played on a single-leg basis, with the winner being decided in a penalty shoot-out in case of a draw after 90 minutes.