The First Stage of the 2012 Copa Santander Libertadores de América ran from January 24 to February 2, 2012 (first legs: January 24–26; second legs: January 31–February 2).[1]
The twelve teams were drawn into six ties on November 25, 2011 in Asunción.[2]
Teams played in two-legged ties on a home-away basis. Each team earned 3 points for a win, 1 point for a draw, and 0 points for a loss. The following criteria were used for breaking ties on points:[3]
The six winners advanced to the second stage to join the 26 automatic qualifiers.
Team 1 played the second leg at home.
| Teams | Scores | Tie-breakers | ||||||
|---|---|---|---|---|---|---|---|---|
| Team 1 | Team 2 | 1st leg | 2nd leg | |||||
Sport Huancayo  | 1:4 |  Arsenal | 0–3 | 1–1 | — | — | — | |
Flamengo  | 3:3 |  Real Potosí | 1–2 | 2–0 | +1:-1 | — | — | |
Caracas  | 1:4 | Peñarol | 0–4 | 1–1 | — | — | — | |
| Libertad | 3:3 |  El Nacional | 0–1 | 4–1 | +2:-2 | — | — | |
Once Caldas  | 1:4 | Internacional | 0–1 | 2–2 | — | — | — | |
UANL  | 1:4 | Unión Española | 0–1 | 2–2 | — | — | — | |
----Arsenal won on points 4–1.
----Tied on points 3–3, Flamengo won on goal difference.
----Peñarol won on points 4–1.
----Tied on points 3–3, Libertad won on goal difference.
----Internacional won on points 4–1.
----Unión Española won on points 4–1.