The 2011 U-20 Copa Libertadores (known as the 2011 Copa Movistar Libertadores Sub-20 for sponsorship reasons) was the first edition of this U-20 club competition. Players born on or after 1 January 1990 were eligible to compete. The tournament was originally going to be hosted in November 2010, however, because of the postponement, players born in 1990 were allowed to play, otherwise only players born after 1 January 1991 would have been eligible.
All games were played in Lima at the Estadio Monumental and Estadio Alejandro Villanueva.
In addition to the two clubs of the host nation, nine clubs qualified from the remaining nine football associations of CONMEBOL and one from the Mexican Football Federation.
The winners and runners-up from each group, as well as the best two third-placed teams, advanced the quarterfinals.
All kick-off times are local ().
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