After a goalless draw in which Argentina did everything but score against a Colombian side inspired by one of the tournament’s great goalkeeping performances, Tevez stepped up to beat David Ospina and seal the shootout 5-4.
Argentina will play either Brazil or Paraguay in next week’s semi-finals.
Tevez, who finished the job after team mates Lucas Biglia and Marcos Rojo had failed to deliver from the spot, chose to share the glory.