The Copa América is the international championships contested among national teams from South America. Peru is one of the 10 CONMEBOL nations and is a regular participant in the tournament. Peru first played in the Copa America in 1927, and up to and including the 2024 edition have made 34 appearances.

Peru have won the tournament twice, in 1939 and 1975. The first title came on home soil in Lima, where they won all four of their matches – beating Ecuador 5–2, Chile 3–1, Paraguay 3–0 and then Uruguay 2–1 in the decisive final fixture. Teodoro "Lolo" Fernández finished as the tournament's leading scorer with seven goals.

The 1975 win came under a very different format, played home and away across the continent with no single host nation. Peru met Colombia in a three-match final series that went to a playoff in Caracas, settled by a single goal from Hugo Sotil. Teófilo Cubillas was named the best player of the tournament.

Since then the closest Peru have come is 2019 in Brazil, when they reached the final and lost 3–1 to the hosts. They have also taken third place at the 1927, 1935, 1949 and 1955 tournaments, and again in 2011 and 2015, and finished fourth in 2021.

The 2024 tournament in the United States was a low point. Drawn in Group A, Peru drew 0–0 with Chile, then lost 1–0 to Canada and 2–0 to Argentina, finishing bottom of the group with a single point. It was the first time they had gone out at the group stage since 1995, and the first time in their history that they had left a Copa América without scoring a goal.

Peru have been among the more frequent hosts of the competition, staging it six times – in 1927, 1935, 1939, 1953, 1957 and 2004.

Teodoro Fernández remains Peru's leading scorer in the history of the Copa América, with 15 goals in 24 matches. One behind him on 14 is Paolo Guerrero, who won or shared the tournament's top-scorer award three times, in 2011, 2015 and 2019, and who is also Peru's all-time leading international goalscorer.

The next edition of the Copa América is scheduled for 2028, with the host nation yet to be confirmed.