| Team | Won |
|---|---|
| Cruzeiro | 2 |
| Independiente | 2 |
| Racing Club | 1 |
| Boca Juniors | 1 |
| São Paulo | 1 |
| River Plate | 1 |
| Olimpia | 1 |
| Vélez Sársfield | 1 |
| Year | Winner (Manager) | Score | Runner-up | Location |
|---|---|---|---|---|
| 1988 | Racing Club Alfio Basile | 2–1 Miguel Ángel Colombatti, Walter Fernández / Robson 1–1 Robson / Omar Catalán | Cruzeiro | Avellaneda, Argentina |
| 1989 | Boca Juniors Carlos Aimar | 0–0 0–0 (5-3 pen.) | Independiente | Buenos Aires, Argentina |
| 1990 | Olimpia Luis Cubilla | 3–0 Gabriel Gonzalez, Adriano Samaniego, Raul Amarilla 3–3 Adriano Samaniego, Raul Amarilla, Monzon / Cardaccio, Moran, Wilson Nunez | Nacional | Montevideo, Uruguay |
| 1991 | Cruzeiro Ênio Andrade | 0–2 Guillermo Daniel Rivarola, Jorge Nicolás Higuaín 3–0 Ademir, Tilico (2) | River Plate | Buenos Aires, Argentina |
| 1992 | Cruzeiro Ênio Andrade | 4–0 Roberto Gaucho, Luis Fernando, Boiaidero 0–1 Claudio GARCIA | Racing Club | Belo Horizonte, Brazil |
| 1993 | São Paulo Telê Santana | 2–2 Leonardo, Juninho / Marquinhos (2) 2–2 Leonardo, Juninho / Marquinhos, Renato Gaúcho (5-3 pen.) | Flamengo | Rio de Janeiro, Brazil |
| 1994 | Independiente Miguel Ángel Brindisi | 1–1 Sebastián Rambert / Sergio Daniel Martínez 1–0 Sebastián Rambert | Boca Juniors | Buenos Aires, Argentina |
| 1995 | Independiente Miguel Ángel López | 2–0 Cristian Domizzi, Javier Mazzoni 0–1 Romário | Flamengo | Avellaneda, Argentina |
| 1996 | Vélez Sarsfield | 1–0 José Luis Félix Chilavert 2–0 Patricio Alejandro Camps, Gélson Baresi (og) | Cruzeiro | Belo Horizonte, Brazil |
| 1997 | River Plate Ramón Díaz | 0–0 2–1 Marcelo Salas (2) / Dodô | São Paulo | São Paulo, Brazil |