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| H | Atlético Junior | - | Vélez Sarsfield | 2:1 (2:0) | ||
| R | Vélez Sarsfield | - | Atlético Junior | 5:4 (2:1, 2:1, 2:1) i.E. | ||
| H: 10.08.1994 | R: 17.08.1994 | Sieger: Vélez Sarsfield | ||||
| H | São Paulo FC | - | Club Olimpia | 2:1 (1:1) | ||
| R | Club Olimpia | - | São Paulo FC | 3:4 (0:0, 1:0, 1:0) i.E. | ||
| H: 10.08.1994 | R: 17.08.1994 | Sieger: São Paulo FC | ||||
