It was organised by the Brazilian Sports Confederation (Confederação Brasileira de Desportos) as a successor of Copa Rio, that featured teams from Europe and South America.

Torneo Octogonal had a similar format than its predecessor, being also held in Rio de Janeiro and São Paulo from 7 June to 4 July.

[1][2] The final was played in a two-legged format, contested by Brazilian teams Vasco da Gama and São Paulo.

After beating São Paulo twice, Vasco won the series 4–0 on points, achieving their first Torneo Octogonal trophy.

[1][3][4] The tournament was named after Rivadávia Corrêa Meyer, football executive and president of the "Confederação Brasileira de Desportos" (Brazilian Sports Confederation), a position he occupied from 1943 to 1955.