Universidad cruise to continental crown
It was the first continental title for Universidad, as they claimed a 4-0 aggregate win with the victory in Santiago.
Vargas opened the scoring in the third minute, before Liga had Jorge Guagua dismissed in the 68th minute. Gustavo Lorenzetti netted the second 11 minutes later before Vargas rounded off the scoring late on.
Copa Sudamericana top scorer Vargas opened the scoring in the third minute with a left-foot strike which gave him his tenth goal in the tournament.
There was more bad news for Liga when defender Guagua was sent off in the 68th minute for elbowing Lorenzetti.
Universidad took advantage in the 79th minute when Liga keeper Alexander Dominguez failed to hold on to Charles Aranguiz's shot and Lorenzetti pounced on the rebound.
Vargas fittingly rounded things off with three minutes to go as he ran more than 30 metres and evaded the attentions of two Liga defenders to beat Dominguez.
Universidad goalkeeper Jhonny Herrera paid tribute to the attitude of his side throughout the tournament. He told Fox Sports: "We were nervous, but winning at our own home in front of our fans is beautiful. It's amazing that we can finish this campaign with a title. This achievement is unbelievable."
Forward Gustavo Canales said: "I have no words to explain how I feel tonight. I fought a lot to be a professional football player and I did not imagine I would take Universidad de Chile to this trophy. We never said this before, but we knew we were playing good football, different to other teams. We never gave up our priority - attacking and look for the rivals' goal."
Midfielder Guillermo Marino added: "I am very happy. We played a great tournament. We never won any international title before and we made history tonight."
Winning the Copa Sudamericana will give Universidad the chance to win further titles as they qualify for the Suruga Bank Cup against the winners of the J.League. They also go into the Recopa Sudamericana against the 2011 Copa Libertadores champions Santos of Brazil.