The draw of the tournament was held on May 20, 2014 in
Buenos Aires,
Argentina. Excluding the defending champion (entering in the round of 16), the other 46 teams were divided into four zones: •
South Zone: Teams from Bolivia, Chile, Paraguay, and Uruguay (entering in the first stage) •
North Zone: Teams from Colombia, Ecuador, Peru, and Venezuela (entering in the first stage) •
Argentina Zone: Teams from Argentina (entering in the second stage) •
Brazil Zone: Teams from Brazil (entering in the second stage) The draw mechanism was as follows: •
South Zone and North Zone: • For the first stage, the 16 teams from the South Zone were drawn into eight ties, and the 16 teams from the North Zone were drawn into the other eight ties. Teams which qualified for berths 1 were drawn against teams which qualified for berths 4, and teams which qualified for berths 2 were drawn against teams which qualified for berths 3, with the former hosting the second leg in both cases. Teams from the same association could not be drawn into the same tie. • For the second stage, the 16 winners of the first stage were drawn into eight ties. The eight winners from the South Zone were drawn against the eight winners from the North Zone, with the former hosting the second leg in four ties, and the latter hosting the second leg in the other four ties. •
Argentina Zone: The six teams were drawn into three ties. Teams which qualified for berths 1–3 were drawn against teams which qualified for berths 4–6, with the former hosting the second leg. •
Brazil Zone: The eight teams were split into four ties. No draw was held, where the matchups were based on the berths which the teams qualified for: 1 vs. 8, 2 vs. 7, 3 vs. 6, 4 vs. 5, with the former hosting the second leg. To determine the bracket starting from the round of 16, the defending champion and the 15 winners of the second stage were assigned a "seed" by draw. The defending champion and the winners from Argentina Zone and Brazil Zone were assigned odd-numbered "seeds", and the winners from ties between South Zone and North Zone were assigned even-numbered "seeds". ==Schedule==