The visitors finished top of Group A, picking up 18 points from their six matches, while Porteno advanced to the last-16 stage of the competition courtesy of claiming second spot in Group G.
Match preview
Porteno have competed in the Copa Libertadores on 38 occasions and have actually been present in the semi-finals of the competition on six previous occasions, including in 2011, losing 4-1 to Santos, who went on to lift the trophy.
The Paraguayan champions won two, drew two and lost two of their six matches in Group G to reach the round of 16, with a total of eight points seeing them finish second behind Colon.
Porteno were the lowest-ranked side in Pot Two due to their results in the group stage of the competition, and they will be taking on a Palmeiras outfit that breezed through Group A with a perfect record.
Francisco Arce's side will enter this contest off the back of a 1-0 defeat to Libertad in the league on Sunday, which has left them in second spot in the table, seven points behind leaders Libertad.
Porteno will certainly be the underdogs heading into the last-16 contest, but the 34-time Primera Division champions will believe that they are capable of claiming a first-leg advantage ahead of the return fixture on July 6.
Palmeiras, meanwhile, will enter this contest off the back of a 2-2 draw with Avai in the league on Sunday, which has left them top of Serie A, picking up 29 points from their 14 matches.
Abel Ferreira's side were impressive in the group stage of the competition, winning all six of their Group A matches to finish top of the section, scoring 25 goals in the process and conceding just three.
Palmeiras have won the Copa Libertadores on three previous occasions, including last year, when they recorded a 2-1 victory over Flamengo in the final.
Periquito Verde suffered a 1-0 defeat to Sao Paulo in the Copa Do Brasil on June 24 before drawing with Avai in the league last time out, with their last success coming away to Sao Paulo in the league on June 21.
Palmeiras will be back in league action against Athletico Paranaense on July 2 before welcoming Porteno for the second leg of their last-16 Copa Libertadores contest on July 6.
Cerro Porteno Copa Libertadores form:
Cerro Porteno form (all competitions):
Palmeiras Copa Libertadores form:
Palmeiras form (all competitions):
Team News
Porteno had three players sent off in their league contest with Libertad on Sunday, with Leonardo Rivas, Claudio Aquino and Rafael Carrascal all receiving red cards in the second period.
The trio will be available for selection here, though, and they are expected to keep their spots in the XI, with head coach Arce set to resist the temptation to shuffle his pack.
That said, there were two first-half alterations in the match with Libertad, with Hugo Franco and Carlos Rolon both replaced, and the pair are unlikely to be in the first XI here due to fitness issues.
As for Palmeiras, head coach Ferreira does not have any fresh injury concerns from the side that took to the field for the 2-2 draw with Avai in the league.
Rafael Navarro is again expected to lead the line, with Wesley and Breno Lopes playing in the wide areas, although Rony and Raphael Veiga are options to start.
Dudu also came off the bench last time out, but a 4-2-3-1 formation is expected to see Gustavo Scarpa operate as the number 10, with Gabriel Menino featuring in central midfield.
Cerro Porteno possible starting lineup:
Jean; Riveros, Bobadilla, Duarte, Patino; Aquino, Carrascal, Da Motta, Rivas; Romero, Martins
Palmeiras possible starting lineup:
Weverton; Mayke, Gomez, Luan, Jorge; Menino, Ze Rafael; Lopes, Scarpa, Wesley; Navarro
We say: Cerro Porteno 0-2 Palmeiras
Porteno will be looking to stay in the contest ahead of the second leg, but we are finding it difficult to predict a positive result for the home side here. Palmeiras have so much quality, especially in the final third of the field, and the Brazilian outfit should have too much for their opponents.