The 1981 Copa Libertadores was won by Flamengo of Brazil, who beat Cobreloa of Chile in the finals, without losing a match in their campaign on the way to win their first title.

Qualified teams

Draw

The champions and runners-up of each football association were drawn into the same group along with another football association's participating teams. Three clubs from Uruguay competed as Nacional was champion of the 1980 Copa Libertadores. They entered the tournament in the Semifinals.

Group stage

Group 1

Group 2

Group 3

Group 4

Tiebreaker

Group 5

Semi-finals

Group A

Group B

Finals