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The 1999 Peruvian Segunda División, the second division of Peruvian football (soccer), was played by 12 teams. The tournament winner, América Cochahuayco was promoted to the Playoff. The tournament was played on a home-and-away round-robin basis.

League table

Pos	Team	Pld	W	D	L	GF	GA	GD	Pts	Qualification
1	América Cochahuayco	22	15	5	2	41	17	+24	50	Promotion playoff
2	Sporting Cristal B^{[note 1]}	22	12	8	2	39	11	+28	44
3	Alcides Vigo	22	11	5	6	35	22	+13	38
4	Deportivo Aviación	22	10	8	4	30	27	+3	38
5	AELU	22	9	6	7	33	22	+11	33
6	Lawn Tennis	22	8	7	7	22	22	0	31
7	Hijos de Yurimaguas	22	7	6	9	20	24	−4	27
8	Virgen de Chapi	22	7	4	11	18	25	−7	25
9	Telefunken 20	22	6	5	11	14	30	−16	23
10	Unión Huaral	22	4	8	10	14	22	−8	20
11	Bella Esperanza	22	4	4	14	18	37	−19	16
12	Guardia Republicana	22	4	4	14	11	35	−24	16

Updated to match(es) played on 1999. Source: ^{[citation needed]}
Rules for classification: 1) points; 2) goal difference; 3) number of goals scored.

América Cochahuayco	2–2 (3–4 PSO)	Deportivo Pesquero

^ Sport Agustino changed its name to Sporting Cristal B. Sporting Cristal B can´t be promoted as they are the "reserve team" of Sporting Cristal which plays in First Division.