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| U | Universidad Católica | - | Colo-Colo | 2:1 (2:0) | ||
| R | Colo-Colo | - | Universidad Católica | 3:1 (1:1) | ||
| U: 21.05.1997 | R: 28.05.1997 | Winnaars: Colo-Colo | ||||
| U | Bolívar | - | Sporting Cristal | 2:1 (1:0) | ||
| R | Sporting Cristal | - | Bolívar | 3:0 (1:0) | ||
| U: 21.05.1997 | R: 28.05.1997 | Winnaars: Sporting Cristal | ||||
| U | Peñarol | - | Racing Club | 1:0 (1:0) | ||
| R | Racing Club | - | Peñarol | 3:2 (1:0, 1:0, 1:0) d.p. | ||
| U: 21.05.1997 | R: 28.05.1997 | Winnaars: Racing Club | ||||
| U | Cruzeiro | - | Grêmio Porto Alegre | 2:0 (2:0) | ||
| R | Grêmio Porto Alegre | - | Cruzeiro | 2:1 (0:0) | ||
| U: 27.05.1997 | R: 03.06.1997 | Winnaars: Cruzeiro | ||||
