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| H | Minervén FC | - | Botafogo - RJ | 1:1 | ||
| R | Botafogo - RJ | - | Minervén FC | 4:5 i.E. | ||
| H: 01.11.1994 | R: 08.11.1994 | Sieger: Minervén FC | ||||
| H | Grêmio Porto Alegre | - | São Paulo FC | 0:0 | ||
| R | São Paulo FC | - | Grêmio Porto Alegre | 6:5 i.E. | ||
| H: 02.11.1994 | R: 10.11.1994 | Sieger: São Paulo FC | ||||
| H | Sporting Cristal | - | El Nacional | 2:1 | ||
| R | El Nacional | - | Sporting Cristal | 0:1 | ||
| H: 02.11.1994 | R: 09.11.1994 | Sieger: Sporting Cristal | ||||
| H | Lanús | - | San Lorenzo | 1:1 | ||
| R | San Lorenzo | - | Lanús | 4:2 i.E. | ||
| H: 02.11.1994 | R: 10.11.1994 | Sieger: San Lorenzo | ||||
| H | Universidad de Chile | - | Oriente Petrolero | 4:1 | ||
| R | Oriente Petrolero | - | Universidad de Chile | 0:5 | ||
| H: 02.11.1994 | R: 09.11.1994 | Sieger: Universidad de Chile | ||||
| H | Huracán | - | Cerro Corá | 1:4 | ||
| R | Cerro Corá | - | Huracán | 1:2 | ||
| H: 02.11.1994 | R: 09.11.1994 | Sieger: Cerro Corá | ||||
| H | Peñarol | - | Danubio | 2:0 | ||
| R | Danubio | - | Peñarol | 1:0 | ||
| H: 02.11.1994 | R: 09.11.1994 | Sieger: Peñarol | ||||
| H | Corinthians SP | - | Vitória - BA | 3:2 | ||
| R | Vitória - BA | - | Corinthians SP | 1:1 | ||
| H: 04.11.1994 | R: 11.11.1994 | Sieger: Corinthians SP | ||||
