Final round
| Pld | W | D | L | GF | GA | +/- | Pts | ||
|---|---|---|---|---|---|---|---|---|---|
1 |
4 | 4 | 0 | 0 | 13 | 4 | +9 | 8 | |
2 |
4 | 3 | 0 | 1 | 13 | 5 | +8 | 6 | |
3 |
4 | 2 | 0 | 2 | 9 | 8 | +1 | 4 | |
4 |
4 | 1 | 0 | 3 | 8 | 12 | -4 | 2 | |
5 |
4 | 0 | 0 | 4 | 4 | 18 | -14 | 0 |
South American Championship
| Winner | |
| Date | 15.01.1939 - 12.02.1939 |
| Played | 10 of 10 |
| Attendance | 14100 |
| Best Player | |
 |
 |  |
|
|---|---|---|---|
 Teodoro Fernández |
7 | 4 | |
Severino Varela |
5 | 4 | |
|
Jorge Alcalde |
4 | 4 | |
|
Pedro Lago |
3 | 4 | |
|
Roberto Porta |
3 | 4 | |
Tiberio Godoy |
3 | 4 | |
Marino Alcívar |
2 | 4 | |
José Avendaño |
2 | 3 | |
|
Manuel Arenas |
2 | 3 | |
|
Eduardo Mingo |
2 | 4 |
