| Group 5 | 03/03/1992 | Sol de América | - | Cerro Porteño | 0:2 | ||||
| Group 5 | 09/03/1992 | Defensor Sporting | - | Cerro Porteño | 2:3 | ||||
| Group 5 | 12/03/1992 | Nacional | - | Cerro Porteño | 0:0 | ||||
| Group 5 | 24/03/1992 | Cerro Porteño | - | Sol de América | 2:0 | ||||
| Group 5 | 07/04/1992 | Cerro Porteño | - | Nacional | 1:1 | ||||
| Round of 16 | 28/04/1992 | Bolívar | - | Cerro Porteño | 2:0 | ||||
| Round of 16 | 05/05/1992 | Cerro Porteño | - | Bolívar | 3:0 | ||||
| Quarter-finals | 12/05/1992 | Barcelona | - | Cerro Porteño | 1:1 | ||||
| Quarter-finals | 19/05/1992 | Cerro Porteño | - | Barcelona | 3:4 pso |
Paraguay