The knockout stages of the 2014 Copa Libertadores de América were played from April 16 to August 13, 2014. A total of 16 teams competed in the knockout stages.[1]
The winners and runners-up of each of the eight groups in the second stage qualified for the knockout stages.
| Group | width=190 | Winners | width=190 | Runners-up |
|---|---|---|---|---|
| 1 |  Vélez Sarsfield |  The Strongest | ||
| 2 | Unión Española | San Lorenzo | ||
| 3 | Cerro Porteño | Lanús | ||
| 4 |  Atlético Mineiro | Nacional | ||
| 5 | Defensor Sporting | Cruzeiro | ||
| 6 | Grêmio |  Atlético Nacional | ||
| 7 | Bolívar |  León | ||
| 8 | Santos Laguna | Arsenal |
The qualified teams were seeded in the knockout stages according to their results in the second stage, with the group winners seeded 1–8, and the group runners-up seeded 9–16.
In the knockout stages, the 16 teams played a single-elimination tournament, with the following rules:[1]
The bracket of the knockout stages was determined by the seeding as follows:[1]
The first legs were played on April 16–17 and 23–24, and the second legs were played on April 22–23, 29–30, and May 1, 2014.[2]
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----Nacional won 3–2 on aggregate.
----Tied 1–1 on aggregate, San Lorenzo won on penalties.
----Lanús won 4–1 on aggregate.
----Atlético Nacional won 2–1 on aggregate.
----Tied 2–2 on aggregate, Defensor Sporting won on penalties.
----Tied 3–3 on aggregate, Bolívar won on away goals.
----Cruzeiro won 3–1 on aggregate.
----Arsenal won 1–0 on aggregate.
The first legs were played on May 7–8, and the second legs were played on May 14–15, 2014.[3]
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----Nacional won 1–0 on aggregate.
----San Lorenzo won 2–1 on aggregate.
----Bolívar won 2–1 on aggregate.
----Defensor Sporting won 3–0 on aggregate.
The first legs were played on July 22–23, and the second legs were played on July 29–30, 2014.[4]
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----Nacional won 2–1 on aggregate.
----San Lorenzo won 5–1 on aggregate.
See main article: 2014 Copa Libertadores Finals.
The finals were played on a home-and-away two-legged basis, with the higher-seeded team hosting the second leg. If tied on aggregate, the away goals rule was not used, and 30 minutes of extra time was played. If still tied after extra time, the penalty shoot-out was used to determine the winner.[1]
The first leg was played on August 6, and the second leg was played on August 13, 2014.[5]
----San Lorenzo won 2–1 on aggregate.