| Grupo 1 | Chile | |||
| Brasil | ||||
| Paraguay | ||||
| Uruguay | ||||
| Venezuela | ||||
| 7-ene-2004 | Concepción | Chile | 3 | González, Soto, Villanueva |
| Uruguay | 0 | |||
| 7-ene-2004 | Concepción | Brasil | 4 | Diego, Dagoberto, Robinho (P), Marcel |
| Venezuela | 0 | |||
| 9-ene-2004 | Concepción | Chile | 3 | Valdivia, Villanueva, Figueroa |
| Venezuela | 0 | |||
| 9-ene-2004 | Concepción | Brasil | 3 | Diego (P), Robinho (P), Maicon |
| Paraguay | 0 | |||
| 11-ene-2004 | Concepción | Brasil | 1 | Robinho |
| Uruguay | 1 | Vigneri | ||
| 11-ene-2004 | Concepción | Paraguay | 3 | González (2, 1P), P. Giménez |
| Venezuela | 1 | Maldonado | ||
| 13-ene-2004 | Concepción | Uruguay | 1 | Olivera |
| Venezuela | 1 | Maldonado | ||
| 13-ene-2004 | Concepción | Chile | 3 | Soto (P), Beausejour, Leal |
| Paraguay | 2 | Figueredo, Torres | ||
| 15-ene-2004 | Concepción | Uruguay | 1 | García |
| Paraguay | 2 | Díaz, Barreiro | ||
| 15-ene-2004 | Concepción | Chile | 1 | Beausejour |
| Brasil | 1 | Alex | ||
| Grupo B | Argentina | |||
| Bolivia | ||||
| Colombia | ||||
| Ecuador | ||||
| Perú | ||||
| 8-ene-2004 | Coquimbo | Colombia | 0 | |
| Ecuador | 1 | Mina | ||
| 8-ene-2004 | Coquimbo | Argentina | 0 | |
| Perú | 0 | |||
| 10-ene-2004 | Coquimbo | Argentina | 2 | Tévez, L. González |
| Bolivia | 1 | Arce | ||
| 10-ene-2004 | Coquimbo | Colombia | 3 | Herrera (3, 1P) |
| Perú | 1 | Guerrero | ||
| 12-ene-2004 | Coquimbo | Ecuador | 4 | Baldeón (2), Salas (P), Mina |
| Perú | 2 | Rodríguez, Guerrero | ||
| 12-ene-2004 | Coquimbo | Colombia | 2 | Herrera, Arzuaga |
| Bolivia | 0 | |||
| 14-ene-2004 | La Serena | Argentina | 5 | L. González, Ferreyra (2), Fernández, Delgado |
| Ecuador | 2 | Salas (P), Perlaza | ||
| 14-ene-2004 | La Serena | Perú | 3 | Guerrero, Aguirre (2) |
| Bolivia | 2 | Arce, Castillo | ||
| 16-ene-2004 | La Serena | Argentina | 4 | Mósquera (A), L. González, G. Rodríguez, |
| Ferreyra | ||||
| Colombia | 2 | Domínguez, Herrera | ||
| 16-ene-2004 | La Serena | Ecuador | 3 | Checa, Salas, Borja |
| Bolivia | 2 | Ortiz, Castillo | ||
| Repechaje | ||||
| 18-ene-2004 | Valparaíso | Brasil | 3 | Alex, Marcel, Dudú |
| Colombia | 0 | |||
| 18-ene-2004 | Valparaíso | Ecuador | 0(2) | |
| Paraguay | 0(4) | |||
| Grupo Final | ||||
| 21-ene-2004 | Valparaíso | Chile | 1 | Millar |
| Paraguay | 2 | Bareiro, Figueredo | ||
| 21-ene-2004 | Valparaíso | Brasil | 0 | |
| Argentina | 1 | Rodríguez | ||
| 23-ene-2004 | Viña del Mar | Argentina | 2 | Figueroa (2) |
| Paraguay | 1 | Achucarro | ||
| 23-ene-2004 | Viña del Mar | Chile | 1 | González |
| Brasil | 3 | Marcel, Dudú, Diego | ||
| 25-ene-2004 | Viña del Mar | Brasil | 1 | De Vaca |
| Paraguay | 0 | |||
| 25-ene-2004 | Viña del Mar | Chile | 2 | Bascuñán, Beausejour |
| Argentina | 2 | Figueroa, Domínguez | ||
| Campeón: Argentina | ||||