In 1992, Raí was part of the São Paulo team that won the club's first ever Copa Libertadores, scoring the only goal of the final second-leg against Newell's Old Boys that took the match to a penalty shootout. Later that year, he was instrumental in the defeat of FC Barcelona in the 1992 Intercontinental Cup, netting both goals in a 2–1 win in Tokyo. This form saw Raí named South American Footballer of the Year for 1992.