| YEAR | CHAMPION | RUNNERS-UP | |
| 1988 | RACING CLUB (Argentina) | Cruzeiro (Brazil) | |
| 1989 | BOCA JUNIORS (Argentina) | Independiente (Argentina) | |
| 1990 | OLIMPIA (Paraguay) | Nacional (Uruguay) | |
| 1991 | CRUZEIRO (Brazil) | River Plate (Argentina) | |
| 1992 | CRUZEIRO (Brazil) | Racing Club (Argentina) | |
| 1993 | SAO PAULO (Brazil) | Flamengo (Brazil) | |
| 1994 | INDEPENDIENTE (Argentina) | Boca Juniors (Argentina) | |
| 1995 | INDEPENDIENTE (Argentina) | Flamengo (Brazil) | |
| 1996 | VELEZ SARSFIELD (Argentina) | Cruzeiro (Brazil) | |
| 1997 | RIVER PLATE (Argentina) | Sao Paulo (Brazil) | |
| 1998 | ------------------------- | ------------------------- |
