The 1981 Copa Libertadores de América finals was the final two-legged tie to determine the Copa Libertadores de América champion. It was contested by Brazilian club Flamengo and Chilean club Cobreloa. The first leg of the tie was played on 13 November at Flamengo's home field, with the second leg played on 20 November at Cobreloa's.

Quick Facts Event, Flamengo ...

1981 Copa Libertadores de América finals

Event	1981 Copa Libertadores de América
Flamengo Cobreloa
2–2 on points Flamengo won after a play-off
First leg
Flamengo Cobreloa 2 1
Date	13 November 1981
Venue	Maracanã Stadium, Rio de Janeiro
Referee	Carlos Espósito (Argentina)
Attendance	93,985
Second leg
Cobreloa Flamengo 1 0
Date	20 November 1981
Venue	Estadio Nacional, Santiago
Referee	Ramón Barreto (Uruguay)
Attendance	61,721
Play-off
Cobreloa Flamengo 0 2
Date	23 November 1981 (1981-11-23)
Venue	Estadio Centenario, Montevideo
Referee	Roque Cerullo (Uruguay)
Attendance	30,200
← 1980 1982 →

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Flamengo won the series after winning a tie-breaking playoff 2-0 at Montevideo's Estadio Centenario.^[1] Thus, the Brazilian team achieved its first Copa Libertadores trophy.^[2]

More information Team, Previous finals appearances (bold indicates winners) ...

Team	Previous finals appearances (bold indicates winners)
Flamengo	None
Cobreloa	None

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Both teams came into the finals as first-time finalists of the Copa Libertadores.

The finals will be played over two legs; home and away. The team that accumulates the most points —two for a win, one for a draw, zero for a loss— after the two legs will be crowned the champion. If the two teams are tied on points after the second leg, a playoff in a neutral venue will become the next tie-breaker. Goal difference is going to be used as a last resort.