Conmebol has not said the exact reason, but Argentina has been hit hard by the corona virus in recent weeks.
In recent weeks, the death toll per 100,000 inhabitants in Argentina has been significantly higher than in the severely affected countries Brazil and India, according to statistics from Our World in Data.
On Monday, representatives from Conmebol will meet to discuss the next step for the Copa América.
The South American football tournament was scheduled to be held last year.
"Conmebol analyzes offers from other countries that have shown an interest in hosting the continental tournament," Conmebol wrote in a short statement.
The tournament has been scheduled to start on June 13 and run until July 10.
From the beginning, the idea was that Argentina and Colombia would share the Copa América.
Earlier in May, however, Colombia was removed as host country after the unrest in the country in connection with protests against Colombian President Iván Duque and his government's tax reforms.