Palmeiras vs Flamengo is the biggest interstate rivalry in Brazil, with both teams fighting for titles and Palmeiras becoming more vulnerable due to lack of replacements in their board of directors.

Flamengo's fiercest and longest-standing rivalries are with the other "Big Four" of Rio de Janeiro: Fluminense, Botafogo and Vasco da Gama; as well as interstate rivalries with Atletico MG and Palmeiras.

In South American and worldwide competitions, the club's highest achievements are their conquests of the 1981, 2024 and 2024 Copa Libertadores, and 1981 Intercontinental Cup against Liverpool, led by the club's most iconic player Zico.