That's all from us but we'll back with more Copa America action on Saturday, when Brazil face Paraguay at 22:30 BST. Time for me to get some much needed kip. See you later.
- Argentina are 14-time Copa champions
- Colombia winners in 2001
- Tevez hits winning penalty
- Venue: Estadio Sausalito
That penalty shootout also equals the highest amount of penalties kicked in a Copa America penalty shootout, with Brazil beating Uruguay 5-4 in 2007.
Argentina's win sets up a potentially mouth-watering semi-final tie with rivals Brazil, who first need to overcome Paraguay in their quarter-final match.
What a story that ended up being then. Carlos Tevez, who during the game had his move to Boca Juniors confirmed, climbs off the bench to score the decisive penalty.
Noel Fitzpatrick: Pains me to say it but the better team won,
No messing from Tevez, he fires the penalty into the back of the net and Argentina are into the semi-finals!
Incredible run of misses!
How...seriously how? A tremendous miss, scooped in comedic fashion over the bar.
No-one wants this! Straight onto the crossbar.
Romero goes the right way and punches the penalty clear. Advantage Argentina.
He did not look confident at all and shoots wide. Sudden death!
To win it...
Keeper gets his hand to it, but somehow the ball squirms under him. Poor penalty.
Placed just inside the post. Ospina cannot reach it.
Horrendous. Skied horribly. Absolutely nowhere near the goal. Dear oh dear.
Low, to the right and the keeper dives the right way but he just can't quite get to it.
Everyone is going the same way! Straight into the roof of the net, way out of the keeper's reach.
Cracking penalty. He looked confident, he was confident. Straight into the top corner.
Falcao rifles the ball into the roof of the net. Top penalty.
And no doubting Messi either, Ospina diving the wrong way and Messi puts it high to the keeper's left.
No doubting Rodriguez, sends the keeper the wrong way.
Matthew Llewel Rees: My little bet with my students here in Bogota was 0-0 Colombia to win on pens!! por favor $30,000 pesos my way please!!??
To penalties then. Could Colombia sneak this?
Argentina won 6-5 on pens when these sides went the distance before, in 1993.
A late chance with a free-kick for Argentina now. It is quite far out but Ever Banega fancies it. His team-mate charge forward but Banega launches the ball high, high over the bar. An embarrassed raise of his hand to acknowledge his error.
Lionel Messi is the latest recipient of a yellow card. What for? I'm not quite sure but Argentina have a corner, which Messi heads down into the ground.
FOUR minutes of stoppage time. Can anyone find a winner? If not then it is to penalties. No extra-time in these games.
So close! Carlos Tevez bursts away to chase a ball over the top, David Ospina races off his line and the ball is accidently poked past him by Cristian Zapata. It looks certain to trickle into the net but Jeison Murillo gets back to clear off the line at the last moment.
Ezequiel Lavezzi is on now for Argentina, replacing Angel Di Maria. Is there time for a latest twist?
It felt like I was typing out yellow card entries every minute in the first half but, unbelievably, it has taken until the 85th minute to see one in the second half, Radamel Falcao booked for a little nudge on a Argentina player.
Colombia make their final change as Victor Ibarbo heads off, with striker Luis Muriel brought on. A change made with penalties in mind?
So close! Colombia survive again as this time a corner is drilled into the area and Nicolas Otamendi sticks out a boot, directing the ball towards goal but David Ospina pushes it onto the post before the ball is cleared off the line.
Straight on to the pitch and straight into the action. One of Ever Banega's first touches of the ball is to smack it against the top of the crossbar after good work from Lionel Messi just outside the Colombia area.
Another change for Argentina as Javier Pastore is replaced by Sevilla midfielder Ever Banega.
Here he comes. With his move to Boca Juniors sorted, Carlos Tevez jogs on to the pitch in place of Sergio Aguero.
Moments later, Radamel Falcao replaces Jackson Martinez for Colombia.
I love seeing Lionel Messi charge at defences, but his latest drive at Colombia's back line is not a good one. He runs straight into an opposition player when he did have options around him.
Twenty minutes to go. Will we have a goal before the 90 minutes are up? Or will penalties be needed? No extra-time in these quarter-final games remember.
Hello! This is something we have not seen in this game until now - a Colombia attack. They set off on a quick break through Juan Cuadrado, who finds James Rodriguez on the edge of the area. The Real Madrid forward pokes the ball to Victor Ibarbo, whose shot is put behind for a corner. From that, Jackson Martinez draws a first save of the game out of Sergio Romero with a strong header.
Ezequiel Garay sends a long searching ball down the right, Javier Pastore bends his run to set off and chase it. The linesman's flag briefly stays down, before he flags Pastore offside.
Argentina are still seeing more of the ball, but are less threatening with it in the final third. They manage to win a free-kick on the right side of the area which Lionel Messi takes, but he fails to trouble David Ospina.
Meanwhile, there's some angry antics on the touchline as the Argentina assistant is sent to the stands. Hot tempered on and off the pitch.
Javier Pastore has had a fine game. He chases down a lost cause after Colombia make a mess of a clearance and sends the ball into the area for Sergio Aguero, who lets the ball bounce but it does not fall kindly for the striker and the chance is gone.