The 1949 South American Championship Final was the final match to determine the winner of the 1949 South American Championship, the 21st. edition of this continental competition. It was held on May 11, 1949, in Estádio São Januário of Rio de Janeiro. Brazil hosted the tournament after 27 years. Brazil had won all its previous matches, thrashing their rivals in all of them (totalising 36 goals in 5 games). Nevertheless, the 2–1 loss to Paraguay caused both teams tied on points so a final match had to be played to crown a champion.