It was the fourth Libertadores decisive-match Final to be held at the Pacaembu as well as the tenth Final to be held in São Paulo and the seventeenth Final to be held in Brazil. While Corinthians progressed to the knockout stages by finishing top of their group, Boca progressed to the knockout stages by finishing runners-up of their group. Boca then beat Unión Española, Fluminense and Universidad de Chile to reach the finals, while Corinthians knocked out Emelec, Vasco da Gama and defending champions Santos.
Boca and Corinthians reached the final having already lost out in their domestic and state leagues respectively (the Torneo Clausura de la Primera División and Paulistão respectively). But Boca having also reached the final of their domestic cup competition (the Copa Argentina), that will play against Racing on August 8 (in other words, after these finals). Meanwhile, Corinthians (that, like the others Brazilians teams in this Libertadores, didn't play their domestic cup – Copa do Brasil – because of schedule conflicts) reached the final occupying 17th place of their domestic league (the Brasileirão).
In their most recent Libertadores finals, Boca won in 2007 to Grêmio 5–0 (3–0 in Buenos Aires, 2–0 in Porto Alegre). While Corinthians had never played a Libertadores/Copa de Campeones finals before, Boca have played in nine Libertadores/Copa de Campeones finals, winning six (1977, 1978, 2000, 2001, 2003 and 2007) and losing three (1963, 1979 and 2004). The two clubs have met each other twice in Americas before, with Boca winning 4–2 on aggregate in the round of 16 of the 1991 Copa Libertadores, and in the group stage of the 2000 Copa Mercosur, with Boca victory 3–0 in Buenos Aires, and a 2–2 draw in São Paulo (as Boca progressed in the competition – would be later eliminated by Atlético Mineiro in quarter-finals -, Corinthians was eliminated in this stage).
The final is played over two legs; home and away. The higher seeded team plays the second leg at home. The team that accumulates the most points —three for a win, one for a draw, zero for a loss— after the two legs is crowned the champion. Should the two teams be tied on points after the second leg, the team with the best goal difference wins. If the two teams have equal goal difference, the away goals rule is not applied, unlike the rest of the tournament. Extra time is played, which consists of two 15-minute halves. If the tie is still not broken, a penalty shootout ensues according to the Laws of the Game.