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| 1st(1st leg) | The Strongest | - | Bolívar | 1:2 (1:2) | ||
| 2nd (2nd leg) | Bolívar | - | The Strongest | 4:0 (2:0) | ||
| 1st(1st leg): 14/04/1994 | 2nd (2nd leg): 24/04/1994 | Winner: Bolívar | ||||
| 1st(1st leg) | Atlético Junior | - | Colo-Colo | 1:1 (0:1) | ||
| 2nd (2nd leg) | Colo-Colo | - | Atlético Junior | 3:4 (2:0, 2:2, 2:2) pso | ||
| 1st(1st leg): 20/04/1994 | 2nd (2nd leg): 27/04/1994 | Winner: Atlético Junior | ||||
| 1st(1st leg) | Barcelona | - | Club Olimpia | 0:1 (0:1) | ||
| 2nd (2nd leg) | Club Olimpia | - | Barcelona | 2:1 (1:0) | ||
| 1st(1st leg): 20/04/1994 | 2nd (2nd leg): 27/04/1994 | Winner: Club Olimpia | ||||
| 1st(1st leg) | Minervén FC | - | Emelec | 2:0 (1:0) | ||
| 2nd (2nd leg) | Emelec | - | Minervén FC | 2:4 (3:1, 3:1, 3:1) pso | ||
| 1st(1st leg): 20/04/1994 | 2nd (2nd leg): 27/04/1994 | Winner: Minervén FC | ||||
| 1st(1st leg) | Universitario de Deportes | - | Independiente Medellín | 2:1 (0:0) | ||
| 2nd (2nd leg) | Independiente Medellín | - | Universitario de Deportes | 2:0 (1:0) | ||
| 1st(1st leg): 20/04/1994 | 2nd (2nd leg): 27/04/1994 | Winner: Independiente Medellín | ||||
| 1st(1st leg) | Defensor Sporting | - | Vélez Sarsfield | 1:1 (1:1) | ||
| 2nd (2nd leg) | Vélez Sarsfield | - | Defensor Sporting | 4:2 (0:0, 0:0, 0:0) pso | ||
| 1st(1st leg): 21/04/1994 | 2nd (2nd leg): 27/04/1994 | Winner: Vélez Sarsfield | ||||
| 1st(1st leg) | Unión Española | - | Cruzeiro | 1:0 (0:0) | ||
| 2nd (2nd leg) | Cruzeiro | - | Unión Española | 0:0 (0:0) | ||
| 1st(1st leg): 21/04/1994 | 2nd (2nd leg): 28/04/1994 | Winner: Unión Española | ||||
| 1st(1st leg) | Palmeiras | - | São Paulo FC | 0:0 (0:0) | ||
| 2nd (2nd leg) | São Paulo FC | - | Palmeiras | 2:1 (1:0) | ||
| 1st(1st leg): 27/04/1994 | 2nd (2nd leg): 24/07/1994 | Winner: São Paulo FC | ||||
