Pre-tournament favourites Argentina were knocked out of the Olympics in football after their last group game against Honduras at the Mane Garrincha Stadium in Brasila ended in a 1-1 draw. This meant that Argentina finished their group, Group D, in third place, behind Portugal and Honduras.

Needing a win, Argentina found it difficult to break down a tough Honduras defence as both sides missed penalties. However, Honduras got second-time lucky with Antony Lozano putting them in front through a penalty in the 75th minute. Argentina desperately tried to fight back, but could only manage to score once, through a Mauricio Martinez free kick in the dying moments of extra time.

It capped a miserable tournament for Argentina, after they had lost their opening game to Portugal 0-2 and then narrowly defeated Algeria 2-1.