| 2. Round | 06/09/1988 | Universidad Católica | - | Nacional | 1:1 | ||||
| 2. Round | 13/09/1988 | Nacional | - | Universidad Católica | 0:0 | ||||
| 3. Round | 21/09/1988 | Newell's Old Boys | - | Nacional | 1:1 | ||||
| 3. Round | 28/09/1988 | Nacional | - | Newell's Old Boys | 2:1 | ||||
| Semi-finals | 05/10/1988 | Nacional | - | América de Cali | 1:0 | ||||
| Semi-finals | 12/10/1988 | América de Cali | - | Nacional | 1:1 | ||||
| Final | 19/10/1988 | Newell's Old Boys | - | Nacional | 1:0 | ||||
| Final | 25/10/1988 | Nacional | - | Newell's Old Boys | 3:0 aet |
Uruguay