| Group 2 | 05/07/1988 | Newell's Old Boys | - | San Lorenzo | 0:0 | ||||
| Group 2 | 12/07/1988 | Barcelona | - | San Lorenzo | 2:0 | ||||
| Group 2 | 15/07/1988 | Filanbanco | - | San Lorenzo | 1:2 | ||||
| Group 2 | 26/07/1988 | San Lorenzo | - | Barcelona | 2:1 | ||||
| Group 2 | 01/08/1988 | San Lorenzo | - | Filanbanco | 2:0 | ||||
| 2. Round | 06/09/1988 | San Lorenzo | - | Guarani - SP | 1:1 | ||||
| 2. Round | 13/09/1988 | Guarani - SP | - | San Lorenzo | 0:1 | ||||
| 3. Round | 20/09/1988 | Peñarol | - | San Lorenzo | 0:0 | ||||
| 3. Round | 28/09/1988 | San Lorenzo | - | Peñarol | 1:0 | ||||
| Semi-finals | 05/10/1988 | Newell's Old Boys | - | San Lorenzo | 1:0 | ||||
| Semi-finals | 12/10/1988 | San Lorenzo | - | Newell's Old Boys | 1:2 |
Uruguay