Paraguay were drawn against Brazil at the quarter final stages. The match was decided via a penalty shoot out. Paraguay won the penalty shoot out 2–0. Paraguay then faced Venezuela in the semi-final. Paraguay won 5–3 via their second consecutive penalty shoot out, to send Paraguay to the final. Paraguay faced Uruguay in the final, the first time that Paraguay reached the final since the 1979 Copa América. Paraguay lost 3–0. Paraguayan goalkeeper Justo Villar was awarded as the Best goalkeeper of the tournament. Gerardo Martino resigned soon afterwards as coach of the Albirroja.