The home side secured their spot at this stage with a 4-1 aggregate victory over Colombian side Millonarios in the last round. A 2-1 away victory was followed by a 2-0 win in Rio de Janeiro last week.
Olimpia's 3-1 victory over Atletico Nacional in Paraguay was followed up with a 1-1 draw in Colombia to secure progress to the third stage of the qualifiers with a 4-1 aggregate victory.
The Paraguayans come into the game on the back of a routine 2-0 home win over Tacuary in the Primera Division on Saturday. Hugo Quintana and Nestor Camacho scored in either half to guide their side to the win.
Fluminense ran riot in a 4-0 away win over Resende in the Brazilian Campeonato Carioca. German Cano's brace inspired the victory for the Tricolor.
The winner of the tie will secure qualification to the group stage of the 2022 Copa Libertadores.
Fluminense vs Olimpia Head-to-Head
The two sides met in the quarterfinals of the 2013 Copa Libertadores when Olimpia secured a 2-1 aggregate victory en-route to their appearance in the final.
Fluminense are currently on an 11-game winning run in all competitions, while Olimpia are unbeaten in 11 matches, winning nine and drawing two.
Fluminense form guide (all competitions): W-D-W-D-W
Olimpia form guide (all competitions): W-D-W-D-W
Fluminense vs Olimpia Team News
There are no known injuries or suspension concerns for the hosts.
First-choice goalkeeper Alfredo Aguilar was not part of the traveling squad to Brazil due to an infection. The visitors will also be without top scorer Guillermo Paiva, who was sent off in the second leg against Nacional.
Suspension: Guillermo Paiva
Unavailable: Alfredo Aguilar
Fluminense vs Olimpia Predicted XI
Fluminense Predicted XI (4-5-1): Fabio (GK); Cristiano, David Braz, Nino, Lucas Calegari; Felipe Melo, Willian, Yago, Andre, Henrique Luis; Fred
Olimpia Predicted XI (4-4-2): Gaston Olveira (GK); Ivan Torres, Saul Salcedo, Luis Zarate, Sergio Otalvaro; Fernando Cardozo, Hugo Quintana, Marcos Gomez, Alejandro Silva; Jorge Recalde, Derlis Gonzalez
Fluminense vs Olimpia Prediction
Both sides' positive runs of form means they will each fancy their chances of securing progress to the group stage.
However, Fluminense have an edge and their winning run, coupled with home advantage, gives them the advantage. We are backing the hosts to secure a comfortable victory, with goals to be scored at both ends.
Prediction: Fluminense 3-1 Olimpia