The world-famous arena beat off competition from seven other stadiums -- five of which are also in Brazil -- to claim hosting rights after also holding the Copa America final earlier this year when Brazil beat Peru 3-1 to win a ninth continental crown.
This year's Libertadores final in Chile's capital Santiago on November 23 will be the first time the deciding encounter for South America's equivalent of the Champions League takes place over a single match.
CONMEBOL president Alejandro Dominguez said the single final format had provided a boost, "increasing the projection and international reach of our football".
The last two-legged final in 2018 ended in controversy when the second leg between bitter Argentine rivals Boca Juniors and River Plate was relocated 10,000 kilometers (6,200 miles) to Madrid.