Chile have upset favourites Argentina with a penalty shootout victory in the Copa America final to retain their title in the world's oldest continental football competition.

With the dynamic Artur Vidal back after suspension, Chile earned themselves bragging rights as South America's dominant team as they beat heavyweights Argentina on penalties for a second straight year in the tournament decider.

The sides were deadlocked 0-0 after 90 minutes and also after another half an hour of extra time in a match where both teams were reduced to 10 men in the first half.