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's home field, with the second leg played on 20 November at Cobreloa's.
The finals were played over two legs; home and away. The team that accumulated the most points —two for a win, one for a draw, zero for a loss— after the two legs was to be crowned the champion. If the two teams were tied on points after the second leg, a playoff at a neutral venue was to become the next tie-breaker. Goal difference was going to be used as a last resort.