The 2011 Copa Libertadores de América finals were the final two-legged tie that decided the winner of the 2011 Copa Libertadores de América, the 52nd edition of the Copa Libertadores de América, South America's premier international club football tournament organized by CONMEBOL. The matches were played on 15 and 22 June 2011, between Brazilian club Santos and Uruguayan club Peñarol. Santos made their fourth finals appearance and first since 2003. Peñarol made their tenth finals appearance, and first since 1987. The two teams had previously met in the finals in 1962. Santos won the cup after beating Penarol 2–1 in the second leg of the final.

Club Atlético Peñarol —also known as Carboneros, Aurinegros, and (familiarly) Manyas— is a Uruguayan sports club based in Montevideo. The name "Peñarol" comes from the Peñarol neighbourhood on the outskirts of Montevideo. Throughout its history the club has also participated in other sports, such as basketball and cycling. Its focus has always been on football, a sport in which the club excels, having never been relegated from the top division. The club traditionally plays in yellow and black-striped shirts.