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Peru and Ecuador have developed new formats for qualification to the Copa Libertadores involving several stages. The countries that use this format are Bolivia, Colombia, Ecuador, Paraguay, Peru, Uruguay and Venezuela. Most teams qualify for the Copa Libertadores by winning half-year tournaments called the Apertura and Clausura tournaments or by finishing among the top teams in their championship. In 1965, it was named in honor of the heroes of South American liberation, such as Simón Bolívar, José de San Martín, Pedro I, Bernardo O'Higgins, and José Gervasio Artigas, among others. On March 5, 1959, at the 24th South American Congress held in Buenos Aires, the competition was ratified by the International Affairs Committee.

On October 8, 1958, João Havelange announced, at a UEFA meeting he attended as an invitee, the creation of Copa de Campeones de America (American Champions Cup, renamed in 1965 as Copa Libertadores), as a South American equivalent of the European Cup, so that the champion clubs of both continental confederations could decide 'the best club team of the world' in the Intercontinental Cup. In 1958, the basis and format of the competition were created by Peñarol's board leaders.

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The 1948 South American tournament began, in continent-wide reach, the 'champions cup' model, resulting in the creation of the European Cup in 1955, as confirmed by Jacques Ferran (one of the 'founding fathers' of the European Cup), in a 2015 interview with a Brazilian TV sports programme. The tournament was won by Vasco da Gama of Brazil. Held in Santiago, it brought together the champions of each nation's top national leagues. In 1948, the South American Championship of Champions (Spanish: Campeonato Sudamericano de Campeones), the most direct precursor to the Copa Libertadores, was played and organized by the Chilean club Colo-Colo after years of planning and organization.

The clashes for the Copa Aldao between the champions of Argentina and Uruguay kindled the idea of continental competition in the 1930s. See also: History of the Copa Libertadores and List of Copa Libertadores finals The cup has been won by 25 clubs, 15 of them more than once, and seven clubs have won two years in a row. Argentine clubs have accumulated the most victories with 25 wins, while Brazil has the largest number of winning teams, with 10 clubs having won the title. Independiente of Argentina is the most successful club in the cup's history, having won the tournament seven times. The winner of the Copa Libertadores becomes eligible to play in the FIFA Club World Cup and the Recopa Sudamericana. The eight group winners and eight runners-up enter the knockout stages, which end with the final in November. The four surviving teams from the first three stages join 28 teams in the group stage, which consists of eight groups of four teams each. In the present format, the tournament consists of eight stages, with the first stage taking place in late January. A group stage has always been used but the number of teams per group has varied. Today at least four clubs per country compete in the tournament, with Argentina and Brazil having the most representatives (six and seven clubs, respectively). In 2000 the tournament was expanded from 20 to 32 teams. In 1998, Mexican teams were invited to compete and contested regularly from 2000 until 2016.

In 1966, the runners-up of the South American leagues began to join. Initially, only the champions of the South American leagues participated. The competition has had several formats over its lifetime. The tournament is named after the Libertadores (Spanish and Portuguese for liberators), the leaders of the Latin American wars of independence, so a literal translation of its former name into English is ' America's Liberators Cup'. It is the highest level of competition in South American club football. The CONMEBOL Libertadores, also known as the Copa Libertadores de América ( Portuguese: Copa Libertadores da América), is an annual international club football competition organized by CONMEBOL since 1960.

Football tournament CONMEBOL Libertadores