| Group 3 | 31/01/1969 | Cerro Porteño | - | Club Olimpia | 4:1 | ||||
| Group 3 | 13/02/1969 | Bolívar | - | Club Olimpia | 1:1 | ||||
| Group 3 | 23/02/1969 | Club Olimpia | - | Cerro Porteño | 1:2 | ||||
| Group 3 | 07/03/1969 | Club Olimpia | - | Bolívar | 4:0 | ||||
| Group 3 | 13/03/1969 | Club Olimpia | - | Litoral de Cochabamba | 2:0 | ||||
| Decider 1. Round | 18/03/1969 | Club Olimpia | - | Bolívar | 2:1 aet | ||||
| Group C | 30/03/1969 | Peñarol | - | Club Olimpia | 1:1 | ||||
| Group C | 07/04/1969 | Club Olimpia | - | Peñarol | 0:1 |
Argentina