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The US continues to be the worst-hit country with the world's highest number of cases and deaths at 35,433,677 and 615,314, respectively.
This is Colombia's fifth third-place finish and first since 2016.
Argentina are seeking to win their first major international title since lifting the Copa America in 1993.
Brazil were on top in the first half but it took them 35 minutes to break the deadlock thanks to a side-footed volley from Paqueta after nice work by Neymar.
Brazil were unbeaten in 11 games and topped Group B, while Chile finished only fourth in Group A.
Peru take on Paraguay in the first quarterfinal.
The result means that Argentina will face Ecuador in the last eight on Saturday while Uruguay, who beat Paraguay 1-0, will play Colombia the same day.
The draw at an empty stadium in central Brazil marked the first time Brazil have not picked up a win since they lost 1-0 to Argentina in a friendly in November 2019.
Brazil had won their previous nine games coming into the match in Rio de Janeiro, all bar one of them without conceding a goal.
Previous studies of ivermectin, which show that early administration with ivermectin can reduce viral load and the duration of symptoms in some patients with mild Covid.