1961年南美自由杯是第2届南美自由杯，为南美洲最顶级的足球球会赛事，由南美洲足球协会主办。本届赛事一共有9队角逐，当中只有委内瑞拉没有派队出赛。

值得一提，上届冠军佩那罗尔是透过赢得国内联赛冠军而得到本届参赛机会，是现时唯一一队不获自动参赛权的卫冕球队。但最终佩那罗尔于决击败来自巴西的帕尔梅拉斯再赢得冠军，成为首队成功卫冕球队。

Seven teams were drawn into two groups, one of our and the other of three. In each group, teams played against each other home-and-away. The top team in each group advanced to the Finals.