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| 1st(1st leg) | Minervén FC | - | Vélez Sarsfield | 0:0 (0:0) | ||
| 2nd (2nd leg) | Vélez Sarsfield | - | Minervén FC | 2:0 (1:0) | ||
| 1st(1st leg): 27/07/1994 | 2nd (2nd leg): 03/08/1994 | Winner: Vélez Sarsfield | ||||
| 1st(1st leg) | Bolívar | - | Club Olimpia | 0:1 (0:0) | ||
| 2nd (2nd leg) | Club Olimpia | - | Bolívar | 2:0 (1:0) | ||
| 1st(1st leg): 27/07/1994 | 2nd (2nd leg): 03/08/1994 | Winner: Club Olimpia | ||||
| 1st(1st leg) | Independiente Medellín | - | Atlético Junior | 0:2 (0:0) | ||
| 2nd (2nd leg) | Atlético Junior | - | Independiente Medellín | 0:0 (0:0) | ||
| 1st(1st leg): 27/07/1994 | 2nd (2nd leg): 03/08/1994 | Winner: Atlético Junior | ||||
| 1st(1st leg) | Unión Española | - | São Paulo FC | 1:1 (1:0) | ||
| 2nd (2nd leg) | São Paulo FC | - | Unión Española | 4:3 (2:0) | ||
| 1st(1st leg): 29/07/1994 | 2nd (2nd leg): 03/08/1994 | Winner: São Paulo FC | ||||
