Lionel Scaloni's side sit at the top of their group with four points from their opening two games, while their opponents have had the perfect start to the tournament as they defeated Bolivia 3-1 in their only group game so far.
Argentina did not enjoy an ideal start to the Copa America, as they took on Chile on the opening day.
Scaloni's men took an early lead thanks to an eye-catching Lionel Messi free kick, but they squandered plenty of opportunities later in the half to double their lead and put the game out of sight.
They would go on to rue those missed chances when they conceded a penalty on the hour mark, as Emiliano Martinez saved Arturo Vidal's initial spot kick but was powerless to stop Eduardo Vargas pouncing on the rebound to pinch a point for his nation.
However, La Albiceleste bounced back instantly from that disappointing result, as they won a crucial game against fellow Group B favourites Uruguay.
Guido Rodriguez netted the only goal of the game in the 13th minute to see Argentina record their first win of the group stage, moving to a tally of four points.
With four teams qualifying for the final eight out of a five-team group, their work is almost done, and they will aim to record another win on Tuesday to confirm their qualification.
Their opponents also find themselves in a strong position to qualify out of Group B, having won their opening game.
Paraguay kicked off their Copa America campaign in the best manner possible, defeating Bolivia 3-1.
Despite Eduardo Berizzo's side dominating throughout the game, it was Bolivia that led from the 10th minute as Paraguay failed to take advantage of an abundance of changes.
They finally managed to click in front of goal on the hour mark though, as Alejandro Romero equalised in the 62nd minute and Angel Romero put them ahead three minutes later, before he hit his second of the game in the 80th minute.
Having missed out on the last gameweek, Berizzo's side now go into three crucial matches in quick succession, knowing that one win should be enough to see them through to the knockout stage, and they will look to defy the odds and secure that victory on Tuesday to leapfrog Argentina.
Argentina will be led by talisman Lionel Messi, who again shone with a Man of the Match award for his nation last time out, as he was a constant threat while also setting up the winning goal.
Midfielder Guido Rodriguez earned himself another start for the coming game as he netted the winner in that game, having played a dynamic midfield performance.
Sergio Aguero was limited to another substitute appearance, and the new Barcelona forward will be desperate for a starting spot, although Scaloni seems set on his front three.
Winger Angel Romero will star in the Paraguay attacking line, after he netted a brace last time out.
Alejandro Romero, who netted the equaliser in that game, should operate on the other flank in an exciting attacking line.
After a solid performance in the opening game, the back four of Alberto Espinola, Gustavo Gomez, Junior Alonso and Santiago Arzamendia should feature, as they look to neutralise one of the world's standout front lines.
Argentina possible starting lineup:
E Martinez; Molina, Otamendi, Romero, Acuna; De Paul, Rodriguez, Lo Celso; Messi, L Martinez, Gonzalez
Paraguay possible starting lineup:
Silva; Espinola, Gomez, Alonso, Arzamendia; Piris, Villasanti; Alejandro Romero, Almiron, Angel Romero; Avalos
We say: Argentina 2-0 Paraguay
Although Paraguay undoubtedly look an exciting proposition, this classy Argentina side should have more than enough to come away from Tuesday's encounter with a victory.
They looked particularly solid at the back when tested against a good Uruguay front line, and those foundations could allow for an open attacking performance.
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