| Tournament details | |
|---|---|
| Teams | 16 (from 10 confederations) |
| Final positions | |
| Champions |  Atlético Mineiro (1st title) |
| Runners-up |  Olimpia |
| Tournament statistics | |
| Matches played | 34 |
| Top scorer(s) | Aílton (6) |
The 1992 Copa CONMEBOL was the first edition of CONMEBOL's annual club tournament. Teams that failed to qualify for the Copa Libertadores played in this tournament. Sixteen teams from the ten South American football confederations qualified for this tournament. Atlético Mineiro defeated Olimpia in the finals.