| Group 3 | 24/02/1998 | Club Olimpia | - | Cerro Porteño | 5:1 | ||||
| Group 3 | 05/03/1998 | Club Olimpia | - | Universidad Católica | 2:0 | ||||
| Group 3 | 12/03/1998 | Club Olimpia | - | Colo-Colo | 1:1 | ||||
| Group 3 | 17/03/1998 | Cerro Porteño | - | Club Olimpia | 1:2 | ||||
| Group 3 | 30/03/1998 | Universidad Católica | - | Club Olimpia | 2:1 | ||||
| Group 3 | 02/04/1998 | Colo-Colo | - | Club Olimpia | 1:3 |  |
|||
| Round of 16 | 22/04/1998 | Colón de Santa Fe | - | Club Olimpia | 3:2 |
Paraguay