The teams head into this one off the back of contrasting results last time out but there is still all to play for ahead of their meeting in the French capital.
Match preview
Paraguay showed great mettle to emerge victorious from a thrilling 4-2 contest against Israel in Saturday's encounter involving the sides.
Goals from Marcelo Fernandez and Julio Enciso put Carlos Jara's men 1-0 and 2-1 up on the day but they were pegged back on either occasion by Omri Gandelman and Oscar Gloukh before a late salvo from Fabian Balbuena and Fernandez got the job done.
That was a perfect response to suffering a 5-0 defeat to Japan in their opening encounter and the South Americans have now picked up three points from two matches so far.
Consequently, they have moved up to second in Group D, two points clear of Mali and Israel who, however, are still in with a chance of making it through to the last eight.
Having qualified for the knockout stages in both of their two previous appearances at this level, Paraguay will be keen to decide their own fate by claiming all three points here.
Mali were dealt a huge blow last time out following an agonising 1-0 defeat against Japan at the Matmut Atlantique on Saturday afternoon.
Badra Diallo's men were closing in on securing a hard-fought share of the spoils in Bordeaux as the game entered into its final 10 minutes in which Rihito Yamamoto struck the winning goal which should have been cancelled out but for Cheickna Doumbia's late penalty miss.
An opening 1-1 draw against Israel remains Mali's only point from their two involvements and they currently sit third in Group D heading into their final outing.
Two decades on from their debut showing at the Olympics which ended in a quarter-final exit, the West Africans are now faced with a must-win clash if they are to avoid an early exit this time around.
Paraguay Olympic Games Men's Football form:
L
W
Mali Olympic Games Men's Football form:
D
L
Team News
Paraguay's Enso Gonzalez is a major doubt for this one after he was hauled off in the win over Israel.
Marcelo Fernandez grabbed an impressive double in the aforementioned game, making him one to keep an eye on here.
Midfielder Wilder Viera is eligible to feature in this one after serving a one-match suspension as a result of his red card on matchday one.
Cheickna Doumbia had an outing to forget for Mali last time out but the 21-year-old is expected to retain his place in the starting XI.
Hamidou Diallo will be pushing for a return to the lineup in this one having had to make way for Ibrahima Cisse against Japan.
Paraguay possible starting lineup:
R.Fernandez; Rivas, De Jesus, Falbuena, Nunez; Caballero, M.Gomez, D.Gomez, Perez; Enciso, M.Fernandez
Mali possible starting lineup:
L.Diarra; Doucoure, Cisse, Tounkara, Diomande; Diakite, Traore, Jiddou; T.Diarra, Doumbia, B.Diarra