The club plays its home games at Estadio Tigo La Huerta; which holds 10,100 people.

Founded in 1905, Libertad is the third most successful Paraguayan football club, winning 25 national titles, only behind rivals Olimpia and Cerro Porteño.

Despite that, Libertad has confirmed its position as the third "big" team of Paraguay by winning 21 championships, ten more than Guaraní, which has eleven.

The club's first participation in the Copa Libertadores was in 1968, where they finished last with one win, one draw and 4 losses in a group containing Peñarol, Nacional, and Guaraní.

[4] The club went through lots of success after their return to the top tier, as noted by winning the league titles in 2002 and 2003.

Then they beat Sport Recife and Itagüí in the round of 16 and quarter-finals, before being eliminated by Lanús, who eventually won the competition.

The first match between the two clubs was played in 1921, which was won by Guarani to obtain the league title that year.