2009 Copa Libertadores Finals

Estudiantes started this year's Copa Libertadores run in the First Stage in a two-legged tie against Peruvian club Sporting Cristal for a spot in Group 5. Sporting Cristial took the first leg, played in Lima, 2−1. Enzo Pérez scored the lone goal for Estudiantes. In the second leg, Estudiantes' Ramón Lentini scored the lone goal of the match, assuring that Estudiantes advanced to the Second Stage on the away goals tie-breaker.

Final Group 5 standings

Team	Pld	W	D	L	GF	GA	GD	Pts
Cruzeiro	6	4	1	1	9	5	+4	13
Estudiantes	6	3	1	2	9	4	+5	10
Deportivo Quito	6	2	2	2	6	9	−3	8
Universitario de Sucre	6	0	2	4	2	8	−6	2

Cruzeiro was drawn into Group 5, with Estudiantes advancing into it. They were joined by the defending Ecuadorian champion, Deportivo Quito, and the Bolivian 2008 Apertura champion, Universitario de Sucre. Their first group match was against each other in Belo Horizonte. Cruzeiro won 3−0 with goals by Fernandinho and Kléber (two). The next group match between the both of them was their respective fifth group-play match. Playing in La Plata, Estudiantes won 4−0 with goals by Juan Sebastián Verón, Gastón Fernández, and Cristian Sánchez Prette (two).

Cruzeiro second group match was on the road against Deportivo Quito. Ramires scored for Cruzeiro before Giovanny Caicedo tied it for Deportivo Quito. They stayed on the road (to Sucre) to play Universitario. Thiago Ribeiro scored the lone goal of the match to get the win. The next two game Cruzeiro played were at home. Universitario visited first and lost the match thanks to two goals by Wellington Paulista. In Cruzeiro's last match of group play, they played host to Deportivo Quito, whom they beat 2−0 with goals by Léo Fortunato and Wagner.

Estudiantes continued group play by hosting Universitario. Juan Manuel Salgueiro scored the only goal for Estudiantes, and subsequently the win. They then went to Quito to play Deportivo Quito. Estudiantes lost the match 1−0. Deportivo Quito then visited Estudiantes for their next match. Estudiantes soundly won the match 4−0 thanks to a goal by Enzo Pérez and a hat-trick by Mauro Boselli. Estudiantes' last match of group play ended in a scoreless tie against Universitario.

Cruzeiro and Estudiantes finished 1 & 2, respectively, which advanced them to the Round of 16.

Cruzeiro was seeded 5 for the last stages of the tournament. In the round of 16, they played against Chilean club Universidad de Chile (seeded 12). The first leg was played in Santiago. Cruzeiro won the match 1−2 with goals by Soares and Marquinhos Paraná. second leg, played at home, was won by a lone goal from Kléber. Cruzeiro advanced on points 6−0.

Cruzeiro's quarterfinal match-up was against fellow Brazilian side São Paulo (seeded 4). The first leg, played at home, was won 2−1 with goals by Leonardo Silva and Zé Carlos. The second leg, played in São Paulo, was also won 0−2 with goals by Henrique and Kléber. Cruzeiro advanced on points 6−0.

Cruzeiro's semifinal match-up was against another Brazilian side, top-seeded Grêmio. Cruzeiro won the first leg 3−1 thanks to goals by Wellington Paulista, Wágner, and Fabinho. The second leg, played in Porto Alegre, ended in a 2−2 tie. Wellington Paulista scored twice for Cruzeiro in as many minutes, but Grêmio came back and tied it in the second half. Cruzeiro advanced 4−1 on points.

As of the finals, Cruzeiro is the most effective team in the tournament, with an efficacy rating of 80.56% (9 wins, 2 draws, 1 loss).

Estudiantes was seeded 10 for the last stages of the tournament. Estudiantes' round of 16 match-up was against Paraguayan club Libertad. Seeded 7, Libertad was the first team to advance to the round of 16. Estudiantes won the first match 3−0 with goals by Gastón Fernández (with the fastest goal of the tournament) and Mauro Boselli (2). A 0−0 tie was enough in the second leg to advance Estudiantes 4−1 on points.

The quarterfinals match-up was against Uruguayan club Defensor Sporting (seeded 15). Estudiantes won both legs 1−0 with goals by Leandro Desábato (first leg) and Leandro Benítez (second leg). Estudiantes advanced 6−0 on points.

In the semifinals, Estudiantes met another Uruguayan club, 3 seeded Nacional. In the first leg, played at home, Estudiantes won with a lone goal by Diego Galván. In the second leg, Estudiantes won 1−2 with a pair of goals by Mauro Boselli. Estudiantes advanced 6−0 on points.

As of the finals, Estudiantes has an efficacy rating of 69.05% (9 wins, 2 draws, 3 loss). Striker Mauro Boselli is currently tied as the top-scorer of the tournament, with 7 goals.