The visitors boast a one-goal lead following their previous meeting, but do head into this game on the back of a defeat at the weekend.
Match preview
Olimpia have everything to do on Friday should they wish to continue in the Copa Libertadores as two goals will be required to keep them in the competition moving forward.
Francisco Arce's men were defeated by a goal to nil last week with Bruno Henrique's early second-half goal proving to be decisive in that match which Flamengo completely dominated.
Olimpia only managed 25 percent of the possession in that match which is something they will have to change this time around should they want to provide more competition to their opponents.
However, Arce's squad showcased their quality at the weekend when they got straight back to winning ways against Guarani, with a dominant display leading to a 5-2 victory.
Braces from Facundo Bruera and Brian Montenegro were followed by a goal from Fernando Cardozo, showcasing how strong they can be offensively, which is something they will need to display in this match.
On the other hand, Flamengo were not able to follow up their first-leg victory with another at the weekend as their confidence was knocked after being beaten 3-0 by Cuiaba.
That was a match to forget for Jorge Sampaoli's men which brought an end to their 11-match unbeaten streak in all competitions, and the focus will now be getting straight back to winning ways for the Brazilian giants.
The defending Copa Libertadores champions will certainly have the confidence that they can retain their title due to the attacking qualities they have across the team, but it has not been smooth sailing in the competition.
Flamengo only progressed from the group stage by finishing in second place, and that showcases the fact that even the strongest of teams can come up short in this competition.
With a slender one-goal lead to protect there is not much between the two teams, and that is something Sampoli will be wary of when setting up, as getting the balance between trying to finish the tie and defend their lead will be crucial.
Olimpia Copa Libertadores form:
W
D
W
W
W
L
Flamengo Copa Libertadores form:
W
D
D
W
W
W
Flamengo form (all competitions):
D
D
W
W
W
L
Team News
Olimpia may not have found the back of the net in the first leg but Montenegro and Bruera both scored a brace at the weekend and with four goals between them that should be a striking partnership that features in this one.
However, the hosts are missing several key players due to injuries as both Saul Salcedo and Luis Caceres are out with knee problems, meanwhile Derlis Gonzalez is also on the sidelines at the moment.
Considering how dominant Flamengo were in the first leg of this tie it would not be a surprise to see the exact same starting lineup being used here in a bid to create a repeat.
Henrique will certainly keep his place in the team after scoring the current only goal in the tie and because of the attacking quality he brings to the team.
However, Sampaoli will be without the services of Matheus Franca, who has recently completed his transfer to Premier League side Crystal Palace.
Olimpia possible starting lineup:
Espinola; Barreto, Zarate, Gamarra, Zabala; Cardozo, Ortiz, Fernandez, Torres; Montenegro, Bruera
Flamengo possible starting lineup:
Cunha; Franca, Bruno, Pereira, Luis; Hugo, Maia; Ribeiro, De Arrascaeta, Henrique; Pedro
We say: Olimpia 1-2 Flamengo
Flamengo dominated Olimpia when the two teams met for the first leg and that psychological advantage could prove to be crucial when it comes to this match on Friday.
Considering the fact that the visitors have a lead to protect they are already in a more comfortable position, and while Olimpia will ask questions it should be the defending champions that progress.