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| U | San Lorenzo | - | Universidad de Chile | 1:0 | ||
| R | Universidad de Chile | - | San Lorenzo | 3:1 | ||
| U: 15.11.1994 | R: 22.11.1994 | Winnaars: Universidad de Chile | ||||
| U | São Paulo FC | - | Sporting Cristal | 3:1 | ||
| R | Sporting Cristal | - | São Paulo FC | 0:0 | ||
| U: 16.11.1994 | R: 23.11.1994 | Winnaars: São Paulo FC | ||||
| U | Cerro Corá | - | Peñarol | 3:1 | ||
| R | Peñarol | - | Cerro Corá | 6:1 | ||
| U: 16.11.1994 | R: 23.11.1994 | Winnaars: Peñarol | ||||
| U | Minervén FC | - | Corinthians SP | 2:5 | ||
| R | Corinthians SP | - | Minervén FC | 6:0 | ||
| U: 18.11.1994 | R: 25.11.1994 | Winnaars: Corinthians SP | ||||
