Goalkeeper Nahuel Losada saved three penalties as Argentina's Lanus beat Brazilian side Atletico Mineiro 5-4 in a shootout to secure its second Copa Sudamericana title on Saturday.

Losada denied Hulk, Biel Teixeira, and Vitor Hugo in a dramatic finish at Estadio Defensores del Chaco in Paraguay's capital.

Carlos Izquierdoz, Sasha Marcich, Dylan Aquino, Agustin Cardozo, and Franco Watson converted their spot kicks for Lanus.

"It's such a great feeling," Losada said after the match. "It hasn't been an easy road to get here. There was a time when no one was interested in me, but look where life has put me."

"This has to be accompanied by a team and a structure, and Lanus has given me that. The message is to keep fighting for your dreams because football can make them come true."

The match was forced into a penalty shootout after the teams were tied 0-0 after 90 minutes and an additional 30 minutes of extra time.

Atletico controlled almost 60% of the possession but could not find a way past Losada, who kept out six shots on target.

Lanus, which also triumphed in 2013, is the sixth two-time champion of the Copa Sudamericana, South America's equivalent of the Europa League.

The result earns Lanus a berth in next year's Copa Libertadores, the region's premier club competition.