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Boca travelled across Buenos Aires on Sunday (AEDT) with the final all square at 2-2 after the opening game at La Bombonera, but their bus was showered with projectiles on the way to River's El Monumental stadium, with some smashing windows of the vehicle.
Eventually the vehicle arrived at the ground, but Boca captain Pablo Perez and his team-mate Gonzalo Lamardo were taken to hospital for assessment, while other players appeared to have been affected by the use of pepper spray.
After discussions that led to several delays, the game was eventually suspended for 24 hours until Monday (AEDT), but the game was postponed again as CONMEBOL accepted Boca players were in no condition to play.
Officials from the governing body, Boca and River all met in Asuncion, Paraguay this week to discuss the rearrangement.
Media reports suggested several potential new locations for the match, including the United Arab Emirates – where the winners will compete in the Club World Cup next month – and Genoa, Italy, a city which has a close bond with Buenos Aires.
But, shortly after Spanish president Pedro Sanchez insisted on Twitter that Spain was "ready" to host the game, CONMEBOL confirmed Madrid has been chosen as the location for the encounter.
CONMEBOL's president Alejandro Dominguez announced the decision at a news conference on Thursday, with other proposed venues such as Asuncion and Doha missing out along with Genoa.
Genoa had made a public appeal to be granted the final, Argentina having quickly been ruled out due to the country soon hosting the G20 meeting of world leaders.
River will additionally have to play two CONMEBOL-organised games behind closed doors as punishment for the attack on the bus, which left a number of Boca players requiring treatment.
The club will also be ordered to pay a A$545,000 (£312,680) fine as part of their punishment.
