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| H | Peñarol | - | Universidad de Chile | 2:0 | ||
| R | Universidad de Chile | - | Peñarol | 1:1 | ||
| H: 29.11.1994 | R: 07.12.1994 | Sieger: Peñarol | ||||
| H | Corinthians SP | - | São Paulo FC | 3:4 | ||
| R | São Paulo FC | - | Corinthians SP | 5:4 i.E. | ||
| H: 02.12.1994 | R: 09.12.1994 | Sieger: São Paulo FC | ||||
|
|
|
|
| H | Peñarol | - | Universidad de Chile | 2:0 | ||
| R | Universidad de Chile | - | Peñarol | 1:1 | ||
| H: 29.11.1994 | R: 07.12.1994 | Sieger: Peñarol | ||||
| H | Corinthians SP | - | São Paulo FC | 3:4 | ||
| R | São Paulo FC | - | Corinthians SP | 5:4 i.E. | ||
| H: 02.12.1994 | R: 09.12.1994 | Sieger: São Paulo FC | ||||
