Palmeiras' semifinal match-up was against Peñarol, three-time winners of the Copa Libertadores, in a rematch of the 1961 final which Peñarol won. This time, Palmeiras started out well winning the first leg, played at home in São Paulo, with a 1−0 with the goal coming from Tupãzinho. The second leg, played in Montevideo, ended with a 1-2 scoreline in favor of Palmeiras with a brace by Tupãzinho.