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| I | Atlético Junior | - | Vélez Sarsfield | 2:1 (2:0) | ||
| V | Vélez Sarsfield | - | Atlético Junior | 5:4 (2:1, 2:1, 2:1) pn. | ||
| I: 10.08.1994 | V: 17.08.1994 | Campeones: Vélez Sarsfield | ||||
| I | São Paulo FC | - | Club Olimpia | 2:1 (1:1) | ||
| V | Club Olimpia | - | São Paulo FC | 3:4 (0:0, 1:0, 1:0) pn. | ||
| I: 10.08.1994 | V: 17.08.1994 | Campeones: São Paulo FC | ||||
