AbstractClimate hazards associated with compound events (CEs) have lately received increasing attention over South America (SA) due to their potential risks and amplification of impacts. This work addressed the evaluation of different temperature‐ and precipitation‐based CE in SA considering the CORDEX‐CORE ensemble of regional climate models (RCMs) and their driving earth system models (ESMs) in the reference period 1981–2010 and the late 21st century (2070–2099), for the Representative Concentration Pathways (RCPs) 2.6 and 8.5 scenarios. The assessment focused on model performance for the individual events—heatwaves (HWs), Extreme rainfall (ER) days, and dry‐spells (DSs)—and their compound occurrence in terms of climatological frequency and duration. The spatial patterns of individual events were adequately reproduced by the RCMs, evidencing general overestimations in extreme precipitation intensities. In terms of CE, the frequencies of coincident HWs and DSs (sequential DSs and ER) were remarkable over central‐eastern Brazil and southern SA (southeastern SA). The main features of CE were generally well‐simulated by the RCMs, although they presented regional differences such as an underestimation of the maximum frequencies of these two CE in northeastern Brazil and southeastern SA, respectively. The high‐resolution information was generally in line with the larger‐scale driving ESMs. The climate change signal analysis generally showed robust future increases in CE frequency and duration in different areas of SA, as for coincident HWs and DSs (sequential DSs and ER) over northern SA and southern Brazil (southeastern SA). This was mostly consistent among the RCMs ensemble and notably strengthened in the worst‐case scenario (RCP 8.5).