The hosts Argentina won the tournament for the first time and qualified to their second FIFA Women's World Cup and their first Olympic tournament. Runners-up Brazil also qualified for the World Cup; but had to face Ghana in a play-off to qualify to the Olympics.
Venue
Like in the 1998 edition, the only venue used for the tournament was the Estadio José María Minella, also known as Estadio Mundialista.
The tournament format is similar to the 1998 edition. It features a first round, where the ten teams are divided into two groups of five teams each. The top two teams in the groups advance to a final round, instead of a knockout stage.
The final round was set up in a round-robin format, where each team played one match against each of the other teams within the group. The top two teams in the group qualified for the 2007 FIFA Women's World Cup in the People's Republic of China, and the first-placed team won the tournament.
Three points were awarded for a win, one point for a draw, and zero points for a loss.
Tie-breaking criteria
Teams were ranked on the following criteria:
1. Greater number of points in all group matches
2. Goal difference in all group matches
3. Greater number of goals scored in all group matches
4. Head-to-head results
5. Drawing of lots by the CONMEBOL Organising Committee
Key to colours in group tables
Group winners and runners-up advance to the final round