| Tournament details | |
|---|---|
| Dates | March 6 – October 31 |
| Teams | 21 (from 10 associations) |
| Final positions | |
| Champions |  Peñarol (5th title) |
| Runners-up |  América de Cali |
| Tournament statistics | |
| Matches played | 76 |
| Goals scored | 207 (2.72 per match) |
| Top scorer(s) |  Ricardo Gareca (7 Goals) |
The 1987 Copa Libertadores was the 28th edition of the Copa Libertadores, CONMEBOL's annual international club tournament. Peñarol won the competition after beating América de Cali in the finals.