The 1962 Copa de Campeones Finals was the final series of the 1962 staging of South American football's premier club competition, the Copa de Campeones, better known today as the Copa Libertadores. The showpiece event was contested between defending champions Peñarol and Santos. Two-time winners Peñarol were appearing in their third consecutive final, whereas Santos were seeking to win the competition for the first time. Ten teams entered the competition in its third season and, due to the rules in place at the time, Peñarol received a bye into the semifinals and reached the final having won only one match in the semifinal round.