The Superclasico Copa Libertadores final will go ahead after CONMEBOL rejected Gremio's appeal following their loss to River Plate.

The Brazilian side appealed their elimination due to River coach Marcelo Gallardo breaking suspension rules during his side's 2-1 second-leg win on Tuesday.

River's dramatic victory saw them advance on away goals after the semi-final tie finished level at 2-2.

In a statement on Saturday, CONMEBOL announced it had rejected Gremio's appeal and that River's 2-1 win would stand.

It means the highly anticipated Superclasico decider will go ahead, with Boca Juniors to host the first leg on November 10.

However, Gallardo has been suspended for three games and fined $50,000.

Gremio can appeal the decision.

As it stands, the first leg of the final will take place at Boca's La Bombonera stadium on November 10 and the return fixture 14 days later at the Estadio Monumental Antonio Vespucio Liberti.