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| 1st(1st leg) | Bolívar | - | Barcelona | 1:1 (0:0) | ||
| 2nd (2nd leg) | Barcelona | - | Bolívar | 4:0 (2:0) | ||
| 1st(1st leg): 13/05/1998 | 2nd (2nd leg): 27/05/1998 | Winner: Barcelona | ||||
| 1st(1st leg) | River Plate | - | Colón de Santa Fe | 2:1 (2:1) | ||
| 2nd (2nd leg) | Colón de Santa Fe | - | River Plate | 1:3 (1:1) | ||
| 1st(1st leg): 20/05/1998 | 2nd (2nd leg): 27/05/1998 | Winner: River Plate | ||||
| 1st(1st leg) | Peñarol | - | Cerro Porteño | 2:0 (1:0) | ||
| 2nd (2nd leg) | Cerro Porteño | - | Peñarol | 3:0 (1:0) | ||
| 1st(1st leg): 20/05/1998 | 2nd (2nd leg): 27/05/1998 | Winner: Cerro Porteño | ||||
| 1st(1st leg) | Grêmio Porto Alegre | - | Vasco da Gama - RJ | 1:1 (0:0) | ||
| 2nd (2nd leg) | Vasco da Gama - RJ | - | Grêmio Porto Alegre | 1:0 (1:0) | ||
| 1st(1st leg): 03/06/1998 | 2nd (2nd leg): 06/06/1998 | Winner: Vasco da Gama - RJ | ||||
