Group stage
Nacional received a bye to the second round as 1980 title holders.
Group 3
3 July 1981
Attendance: 63,153
Referee: José Roberto Wright (Brazil)
14 July 1981
Attendance: 25,967
Referee: Carlos Montalvan (Brazil)
24 July 1981
Attendance: 38,718
Referee: Abel Gnecco
7 August 1981
Attendance: 62,763
Referee: Carlos Rosa Martins
11 August 1981
Attendance: 13,000
Referee: Roque Cerullo
11 August 1981
Attendance: 25,000
Referee: José Martizez Bazan
Match awarded to Flamengo after 37 minutes because Atlético had six players left after five sendings-off . The game was 0–0 at the time of stoppage. The referee was Jose Roberto Wright .
Semi-finals
Group A
2 October 1981
Attendance: 50,000
Referee: Mário Lira
23 October 1981
Attendance: 28,847
Referee: Juan Cardelino
30 October 1981
Attendance: 7,520
Referee: Jorge Orellana
Finals
13 November 1981
Attendance: 93,985
Referee: Esposito (Argentina)
20 November 1981
Attendance: 61,721
Referee: Ramón Barreto (Uruguay)
23 November 1981
Attendance: 30,200
Referee: Roque Cerullo (Uruguay)
Man of the Match:
Assistant referees:
Juan Cardelino
Ramón Barreto