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After neither side was able to find the back of the net through 120-minutes, the decider went to penalties with Chile winning 4-1.
Argentina missed two of their efforts before Sanchez slid home a perfect panenka to win Chile's maiden international title.
Watch the video below for the penalty shootout highlights including Argentina's misses and Sanchez's finish.
The Moment #ARG Lost | http://t.co/7h1mQkUd53 The highs and lows of the #FinalCA2015 Penalty-Shootout. #CHI win! pic.twitter.com/QhNNgFcFmT
— fanatix (@therealfanatix) July 4, 2015