While the hosts occupy second place in the group, Gimnasia sit in fourth position but still have an outside chance to climb into the top two.
Match preview
Universitario could not have wished for a better start to the group stage after collecting seven points from their opening three matches.
However, they have been unable to add to that tally in the last two matchdays, losing 1-0 to Goias and 2-0 to Santa Fe.
After experiencing a couple of disappointing results, Universitario are two points adrift of group leaders Goias and level on points and goal difference with third-placed Santa Fe.
They will progress to the knockout rounds with a win, but if they fail to secure all three points, a number of permutations could come into play, including goal difference and goals scored.
Having avoided defeat in each of their three home games (W2, D1) in the Copa Sudamericana this term, Universitario may be quietly confident about their chances of picking up a positive result.
Gimnasia, meanwhile, began the group stage with three consecutive defeats, but they finally got up and running on matchday four, claiming a narrow 1-0 win over Santa Fe.
They had to settle for a goalless draw in their most recent Copa Sudamericana fixture against Goias, leaving them at the bottom of the group with four points to their name.
With three points separating them from the top two, they still have a mathematical chance of reaching the playoff round, but they also need a favourable swing in goal difference.
The visitors are currently three goals worse off than both Universitario and Santa Fe, highlighting the significant challenge that lies ahead of them on the final matchday.
Having failed to win any of their previous eight away games in the competition, Gimnasia are looking to record their first-ever away victory in the Copa Sudamericana.
Universitario Copa Sudamericana form:
W
W
D
W
L
L
Universitario form (all competitions):
Gimnasia Copa Sudamericana form:
L
L
L
W
D
Gimnasia form (all competitions):
W
D
L
D
W
D
Team News
Universitario will be unable to call upon Nelson Cabanillas and Rodrigo Urena, who are both suspended for the final group game.
However, Matias Di Benedetto will be available after serving a one-match suspension, and he is expected to feature in the back three alongside Aldo Corzo and Williams Riveros.
Jose Carvallo has missed the club's last two games due to international duty, but the goalkeeper will return between the posts on Wednesday.
As for the visitors, they are expected to be without the services of German Guiffrey, Matias Miranda and Lautaro Chavez due to injury issues.
After returning to the side for the recent goalless draw against Central Cordoba, Bautista Barros Schelotto is set to retain his place at right-back for Wednesday's encounter.
Cristian Tarragona has started the last four matches for Gimnasia, and the forward is expected to retain his place for the final group game.
Universitario possible starting lineup:
Carvallo; Corzo, Riveros, Di Benedetto; Ancajima, Perez, Calcaterra, Quispe, Bolivar; Herrera, Urruti
Gimnasia possible starting lineup:
Durso; Barros Schelotto, Morales, Mastrangelo, Collazo; Miramon, Napolitano; Steimbach, Lescano, Dominguez; Tarragona