1962 Copa Libertadores
| Tournament details | |
|---|---|
| Dates | February 7 - August 30 |
| Teams | 10 (from 9 confederations) |
| Final positions | |
| Champions |
 Santos (1st title)
|
| Runners-up |
 Peñarol
|
| Tournament statistics | |
| Matches played | 26 |
| Goals scored | 107 (4.12 per match) |
| Top scorer(s) |
Coutinho Alberto Spencer Enrique Raymondi(6 goals each) |
The 1962 Copa de Campeones de América was the third edition of South America's premier club football tournament. Ten teams entered, one more than the previous season, with Venezuela again not sending a representative. This was the first edition in which the defending champions were allowed to automatically qualify allowing the nation which contained the holders to have an extra team on the tournament.
Arguably, the competition took transcendental international projection from this edition due to the participation of Santos. The constant exhibitions of the Santásticos, containing in its ranks the legendary and magnificent Pelé and compatriots of equal stature such as the chivalric Gilmar, Mauro, Mengálvio, the splendid Coutinho, and the iconic Pepe, were every week news in the world and, inevitably, every corner of the world talked about the Copa de Campeones competition that Santos won in 1962. Santos ended the Carboneros' reign as they defeated Peñarol 0-3 in the deciding playoff in Buenos Aires.
This season saw the competition have an increase in participants by one team; as a result, the preliminary round from the previous season was eliminated. The first phase was now a group phase of three groups containing three clubs each. The format for the semifinals and the finals remained the same.
At each stage of the tournament teams receive 2 points for a win, 1 point for a draw, and no points for a loss. If two or more teams are equal on points, the following criteria will be applied to determine the ranking in the group stage:
Starting this edition, a playoff will become the first tie-breaker, then goal difference.
Nine teams were drawn into three groups. In each group, teams played against each other home-and-away. The top team in each group advanced to the Semifinals. Peñarol, the title holders, had a bye to the next round.
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