| 1927 South American Championships in Athletics | |
| Host City: | Santiago, Chile |
| Dates: | 15–20 April |
| Previous: | Montevideo 1926 |
| Next: | Lima 1929 |
The 1927 South American Championships in Athletics were held in Santiago, Chile between 14 and 19 April.
| 100 metres | Juan Piña | 10.8 =CR | Rodolfo Wagner | Alex Hanning | |||
| 200 metres | Juan Piña | 22.0 CR | Rodolfo Wagner | Alex Hanning | |||
| 400 metres | Ángel Prada | 50.0 | Roberto Genta | José Vicente Salinas | |||
| 800 metres | Serafín Dengra | 1:58.2 CR | Leopoldo Ledesma | Guillermo Godoy | |||
| 1500 metres | Leopoldo Ledesma | 4:10.2 CR | Luis Suárez | Víctor Moreno | |||
| 3000 metres | Manuel Plaza | 8:54.2 | Fernando Cicarelli | ||||
| 5000 metres | Manuel Plaza | 15:36.0 | Belisario Flores | Pedro Pérez | |||
| 10,000 metres | Manuel Plaza | 32:11.2 | Florides Castillo | Pedro Arancibia | |||
| 110 metres hurdles | Valerio Vallanía | 15.6 =CR | Alfredo Ugarte | Héctor Fischer | |||
| 400 metres hurdles | Carlos Müller | 56.4 | Roberto Genta | 56.4 | Humberto Lara | ||
| 4 × 100 metres relay | Alberto Barucco Roberto Genta Juan Gagliardi Juan Bautista Pina | 42.8 CR | | ||||
| 4 × 400 metres relay | Roberto Genta Angel Prada Félix Escobar Juan Acosta | 3:24.2 | | ||||
| 3000 metres team race | | ||||||
| Cross country | Manuel Plaza | 49:08.0 | Florides Castillo | Pedro Arancibia | |||
| High jump | Valerio Vallanía | 1.86 CR | Carlos Japke | 1.80 | Luis Garay | 1.80 | |
| Pole vault | Jorge Haeberli | 3.70 CR | Julio Bertini | 3.60 | Humberto Güiraldes | 3.40 | |
| Long jump | Oscar Alvarado | 6.69 | Julio Moreno | 6.65 | Valerio Vallanía | 6.63 | |
| Triple jump | Luis Brunetto | 14.64 | Atilio Vicentini | 14.28 | Humberto Güiraldes | 14.07 | |
| Shot put | Benjamín Acevedo | 12.69 | Custodio Seguel | 12.25 | Luis Romana | 12.18 | |
| Discus throw | Pedro Elsa | 38.56 CR | Héctor Benapres | 38.43 | David Martín Estévez | 37.30 | |
| Hammer throw | Federico Kleger | 46.69 | Pedro Goic | 45.74 | Ricardo Bayer | 45.70 | |
| Javelin throw | Guillermo Newbery | 53.98 CR | Custodio Seguel | 52.86 | Pedro Ceballos | 52.45 | |
| Decathlon | Erwin Gevert | 6668.06 CR | Serapio Cabello | 6410.07 | Carlos Japke | 6408.08 |