The Paraguayan team is twice winner of the Copa América. They raised the trophy of the tournament in 1953 and 1979. These two titles, together with the silver medal at the Athens 2004 Olympic Games, are the greatest achievements of the Guarani team.

In addition, Paraguay reached at least the semifinals in two of the last three editions of the Copa América (final in 2011 and semifinals in 2015), although they won only one of the 15 matches played in those editions (9 ties and 5 losses): it was 1-0, against Jamaica, in 2015.