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| 1st(1st leg) | Racing Club | - | Sporting Cristal | 3:2 (1:1) | ||
| 2nd (2nd leg) | Sporting Cristal | - | Racing Club | 4:1 (2:1) | ||
| 1st(1st leg): 23/07/1997 | 2nd (2nd leg): 30/07/1997 | Winner: Sporting Cristal | ||||
| 1st(1st leg) | Cruzeiro | - | Colo-Colo | 1:0 (1:0) | ||
| 2nd (2nd leg) | Colo-Colo | - | Cruzeiro | 1:4 (1:1, 3:2, 3:2) pso | ||
| 1st(1st leg): 23/07/1997 | 2nd (2nd leg): 30/07/1997 | Winner: Cruzeiro | ||||
