| Semi-finals | 25/03/1965 | Santos FC | - | Peñarol | 5:4 | ||||
| Semi-finals | 28/03/1965 | Peñarol | - | Santos FC | 3:2 | ||||
| Semi-finals | 31/03/1965 | Peñarol | - | Santos FC | 2:1 aet | ||||
| Final | 09/04/1965 | Independiente | - | Peñarol | 1:0 | ||||
| Final | 12/04/1965 | Peñarol | - | Independiente | 3:1 | ||||
| Final | 15/04/1965 | Independiente | - | Peñarol | 4:1 |
Uruguay