Cabañas became Club América's most prolific goalscorer for 2007, finishing up the first half of the year with an impressive 19 goals between 2007 Copa Libertadores (in which he became the top-scorer with 10 goals) and the Mexican Primera División. He started the second half of the year with a single goal in the North American SuperLiga, then scored 4 more goals in the 2007 Copa Sudamericana, and has scored 9 more in the Mexican Primera División, bringing his year's total with the club to 33 goals. His top form in 2007 earned him the Paraguayan Footballer of the Year and South American Footballer of the Year awards.