The Copa Libertadores 1974 was the 15th edition of the Copa Libertadores, CONMEBOL's annual international club tournament. Defending champions Independiente won the competition, bagging their third consecutive title.

Country	Team	Qualification method
CONMEBOL (1 berth)	Independiente	1973 Copa Libertadores champion
Argentina (2 berths)	Rosario Central	1973 Nacional champion
	Huracán	1973 Metropolitano champion
Bolivia (2 berths)	Jorge Wilstermann	1973 Primera División champion
	Deportivo Municipal	1973 Primera División runner-up
Brazil (2 berths)	Palmeiras	1973 Campeonato Brasileiro Série A champion
	São Paulo	1973 Campeonato Brasileiro Série A runner-up
Chile (2 berths)	Unión Española	1973 Primera División champion
	Colo-Colo	1973 Primera División runner-up
Colombia (2 berths)	Atlético Nacional	1973 Campeonato Profesional champion
	Millonarios	1973 Campeonato Profesional runner-up
Ecuador (2 berths)	El Nacional	1973 Campeonato Ecuatoriano champion
	Universidad Católica	1973 Campeonato Ecuatoriano runner-up
Paraguay (2 berths)	Cerro Porteño	1973 Primera División champion
	Olimpia	1973 Primera División runner-up
Peru (2 berths)	Defensor Lima	1973 Primera División champion
	Sporting Cristal	1973 Primera División runner-up
Uruguay (2 berths)	Peñarol	1973 Primera División champion
	Nacional	1973 Primera División runner-up
Venezuela (2 berths)	Portuguesa	1973 Primera División champion
	Valencia	1973 Primera División runner-up

The champions and runners-up of each football association were drawn into the same group along with another football association's participating teams. Three clubs from Argentina competed as Independiente was champion of the 1973 Copa Libertadores. They entered the tournament in the Semifinals.

Pos	Team	Pld	W	D	L	GF	GA	GD	Pts	Qualification or relegation		HUR	ROS	UNI	COL
1	Huracán	6	5	0	1	13	4	+9	10	Qualified to the Semifinals		—	1–0	5–1	2–0
2	Rosario Central	6	5	0	1	11	2	+9	10			1–0	—	4–0	2–0
3	Unión Española	6	2	0	4	6	14	−8	4			1–3	0–1	—	2–1
4	Colo-Colo	6	0	0	6	3	13	−10	0			1–2	1–3	0–2	—

Team 1	Score	Team 2
Huracán	4–0	Rosario Central

Pos	Team	Pld	W	D	L	GF	GA	GD	Pts	Qualification or relegation		SAO	PAL	MUN	WIL
1	São Paulo	6	4	2	0	14	5	+9	10	Qualified to the Semifinals		—	2–0	3–3	5–0
2	Palmeiras	6	3	0	3	7	5	+2	6			1–2	—	3–0	2–0
3	Deportivo Municipal	6	1	2	3	9	11	−2	4			1–1	0–1	—	5–2
4	Jorge Wilstermann	6	2	0	4	4	13	−9	4			0–1	1–0	1–0	—

Pos	Team	Pld	W	D	L	GF	GA	GD	Pts	Qualification or relegation		MIL	NAC	POR	VAL
1	Millonarios	6	4	1	1	10	6	+4	9	Qualified to the Semifinals		—	2–1	2–1	2–1
2	Atlético Nacional	6	3	1	2	8	7	+1	7			0–3	—	3–0	2–1
3	Portuguesa	6	2	2	2	4	5	−1	6			2–0	0–0	—	0–0
4	Valencia	6	0	2	4	4	8	−4	2			1–1	1–2	0–1	—

Pos	Team	Pld	W	D	L	GF	GA	GD	Pts	Qualification or relegation		DEF	NAC	CAT	SCR
1	Defensor Lima	6	4	1	1	7	2	+5	9	Qualified to the Semifinals		—	2–1	1–0	2–0
2	El Nacional	6	3	2	1	9	3	+6	8			0–0	—	2–0	3–0
3	Universidad Católica	6	1	2	3	2	5	−3	4			1–0	0–0	—	0–0
4	Sporting Cristal	6	1	1	4	3	11	−8	3			0–2	1–3	2–1	—

Pos	Team	Pld	W	D	L	GF	GA	GD	Pts	Qualification or relegation		PEÑ	CER	OLI	NAC
1	Peñarol	6	3	2	1	5	3	+2	8	Qualified to the Semifinals		—	1–0	0–0	0–2
2	Cerro Porteño	6	2	3	1	7	6	+1	7			1–1	—	1–0	2–2
3	Olimpia	6	1	3	2	4	5	−1	5			0–2	1–1	—	2–0
4	Nacional	6	1	2	3	6	8	−2	4			0–1	1–2	1–1	—

Pos	Team	Pld	W	D	L	GF	GA	GD	Pts	Qualification or relegation		IND	PEÑ	HUR
1	Independiente	4	2	2	0	8	4	+4	6	Qualified to the Final		—	1–1	3–0
2	Peñarol	4	1	2	1	7	5	+2	4			2–3	—	1–1
3	Huracán	4	0	2	2	2	8	−6	2			1–1	0–3	—

Pos	Team	Pld	W	D	L	GF	GA	GD	Pts	Qualification or relegation		SAO	MIL	DEF
1	São Paulo	4	3	1	0	9	0	+9	7	Qualified to the Final		—	4–0	4–0
2	Millonarios	4	2	1	1	5	5	0	5			0–0	—	1–0
3	Defensor Lima	4	0	0	4	1	10	−9	0			0–1	1–4	—

12 October 1974

São Paulo	2–1	Independiente
Rocha 48' Mirandinha 50'		Saggioratto 28'

Estadio do Pacaembu, São Paulo

Attendance: 51.000

Referee: Pérez (Peru)

16 October 1974

Independiente	2–0	São Paulo
Bochini 34' Balbuena 48'

Estadio Libertadores de América, Avellaneda

Attendance: 55.000

Referee: Barreto (Uruguay)

Replay match at Estadio Nacional in Santiago, Chile.

19 October 1974

Independiente	1–0	São Paulo
Pavoni 37'

Estadio Nacional, Santiago

Attendance: 60.000

Copa Libertadores 1974 Winner
Independiente Fifth Title

• Match results at CONMEBOL's website (In Spanish)
  • In English
• Match result at RSSSF's website