The knockout stages of the Copa Libertadores 2007 tournament were played on a home and away basis. The aggregate score determines the team advancing to the next round, with the away goals rule and a penalty shootout as tiebreakers, in that order. No extra time is played.
The teams have been seeded 1 to 8 (first placed teams from group stage) and 9 to 16 (second placed teams from each group) and the ties will be 1 vs 16, 2 vs 15, etc.
| bgcolor=#CCFFFF style="width: 20px;" | Teams qualified as first place | bgcolor=#CCCCFF style="width: 20px;" | Teams qualified as second place |
| Seed | Team | Points | GD | Group | |
|---|---|---|---|---|---|
| 1 |  Santos | 18 | +11 | 8 | |
| 2 | Flamengo | 16 | +6 | 5 | |
| 3 | Libertad | 13 | +5 | 1 | |
| 4 |  Toluca | 12 | +4 | 7 | |
| 5 | Necaxa | 12 | +2 | 2 | |
| 6 |  Vélez | 11 | +3 | 4 | |
| 7 | Grêmio | 10 | 0 | 3 | |
| 8 | Colo-Colo | 9 | +5 | 6 | |
| 9 | América | 12 | +2 | 1 | |
| 10 | São Paulo | 11 | +7 | 2 | |
| 11 | Boca Juniors | 10 | +6 | 7 | |
| 12 | Nacional | 10 | +4 | 4 | |
| 13 |  Cúcuta Deportivo | 9 | +2 | 3 | |
| 14 | Paraná | 9 | +1 | 5 | |
| 15 | Defensor Sporting | 9 | +1 | 8 | |
| 16 |  Caracas | 9 | -3 | 6 |
(*) To prevent a final with two teams from the same country CONMEBOL has paired Santos FC withGrêmio in the Semi-Finals.http://www.conmebol.com/articulos_ver.jsp?id=60617&slangab=S
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See main article: article and 2007 Copa Libertadores Final.