According to the unwritten rule of organizing the tournament alternately in Europe and in America, hosting the VII World Cup went to Chile, which didn't withdraw even faced with huge losses the 1960 earthquake had caused. It was then that the world heard the words of the president of the Chile football federation: "since we have nothing, we will do everything". 51 teams entered the qualifiers. Austria, representing "a rather low level" didn't participate, and teams from France and Sweden (the silver and bronze medallists from 1958) didn't make it through the qualifiers.

The favourites of the games in Chile were the defending champions from Brazil, hopes were also high on teams from Spain, Italy, England and USSR. The group games were heated and very brutal: lots of foul play and expulsions, as well as fights between teams. In the first phase the European teams did much better and 6 of them ended up in the semis. There England was a disappointment again, still with no major success in the World Cup finals. Czechoslovakia qualified and did surprisingly well, beating Hungary and a strong Yugoslavian eleven, to meet with Brazil in the final. It was the second game of these two teams in this tournament, the first one being goalless. This time, as expected, the defending champion defeated these games' sensation, Czechoslovakia, 3:1. Chile and Yugoslavia fought for 3. place and the bronze went to the hosting team.

Didi, Garrincha, Mauro, Vavá (Brazil), Masopust, Schrojf (Czechoslovakia), R. Charlton (England), Albert (Hungary), Šekularac (Yugoslavia).