Copa Libertadores 1973 was won by defending championsIndependiente ofArgentina after defeatingColo Colo ofChile in a third decisive game. The third match which ended 2–1 in extra time was necessary after the previous two leg matches ended in draws. Their second consecutive title made Independiente the first team in the tournament's history to win four titles.
The champions and runners-up of each football association were drawn into the same group along with another football association's participating teams. Three clubs from Argentina competed asIndependiente was champion of the1972 Copa Libertadores. They entered the tournament in the Semifinals.