CONMEBOL will award the Copa Sudamericana title to Chapecoense following this week's tragic plane crash, interim club president Ivan Tozzo announced.
A flight, carrying members of the first team and a number of journalists, came down in Cerro Gordo, La Union on Monday, with only six survivors.
Chapecoense had been due to play Atletico Nacional in the first leg of the Copa Sudamericana final in Colombia on Wednesday.
As thousands gathered to pay tribute to the victims at Chapecoense's Arena Conda on Saturday, Tozzo told TV Globo: "CONMEBOL have testified that they will crown Chapecoense as champions of the Copa Sudamericana.
"In addition, the club will receive the two million dollar prize. Everything is confirmed.
"I do not know if there will be a ceremony to receive the cup."
As torrential rain hit the town of Chapeco, coffins - covered in Chapecoense's green and white colours - were walked through the stadium, along with respective photographs and shirts of those who died.
CONMEBOL chief Alejandro Dominguez, Brazil coach Tite, the country's president Michel Temer and head of FIFA Gianni Infantino were all in attendance, while large screens broadcast the speeches of the delegates to those fans who congregated outside the ground.
Tozzo continued: "We are receiving support from all federations. The CBF, CONMEBOL, FIFA, and especially the people of Chapeco.
"Right now we are beginning to rebuild the team. People want football, people love football in Chapeco.
"Therefore, we must continue this. Let's talk and do well, let the dust settle and rebuild the team for next year. "