Coach Jorge Sampaoli said his players still “entered the history of Chilean football” after pushing Brazil to penalties.
The tie ended 1-1 after 120 minutes and the Seleçao prevailed 3-2 in a shoot-out, but Mauricio Pinilla had struck the bar in the final moments of extra time.
“These are players who entered the history of Chilean football,” assured Sampaoli at the Estadio Mineirao.
“They represent the country in a great way, such as Vidal, Medel and Aranguiz, who had physical problems but ran non-stop.
“When the ball hit the bar, it was the right moment to make history. It was almost the Mineirazo.”
This is a reference to the ‘Maracanazo’ – the World Cup Final in 1950 where Uruguay beat hosts Brazil at the Maracana.
“We believe this squad will improve even more in the coming years, as to play like that against what many consider to be the favourites was remarkable.
“Who knows if Brazil can be the champions? It is a hard-working team and this tough victory could make them stronger.”
Chile actually had more of the ball in this game, keeping 51 per cent possession.
Betting on Serie A? Bet365 are offering a 100% deposit bonus, up to £200 - find out more