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' home field, with the second leg played on 20 November at Cobreloa'.
Flamengo won the series after winning a tie-breaking playoff 2-0 at Montevideo's Estadio Centenario.
||Previous finals appearances (bold indicates winners)
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.