This study evaluates the ability of 19 models of CMIP phase 6 (CMIP6) to simulate Paraguay’s climate features. Historical multi-member simulations of single models and their multi-model ensembles are bias-corrected and evaluated with statistical metrics. Future projections of precipitation and temperature are generated with the ensembles for three integrated scenarios of socio-economic development and greenhouse gas emissions (SSP1–2.6, SSP2–4.5, and SSP5–8.5). The 19 models simulate well the observed mean temperature. The bias-corrected multi-model ensemble reaches the highest skill scores and accurately reproduces the mean spatial field and annual cycle. The bias-corrected multi-model ensemble of precipitation represents the annual cycle weakly, missing the sharp onset and decay of the South American Monsoon. Some individual models and the multi-model ensemble correctly reproduce the west-east gradient, although they underestimate its pronounced spatial variability. Ensembles of future simulations project that by 2100, the annual mean temperature will increase for the three scenarios. On average, the increases are almost 1.7 °C in the sustainable development and low emissions scenario (SSP1–2.6), 3 °C in the middle-of-the-road development and medium emissions scenario (SSP2–4.5), and 5.5 °C in the fossil-fueled development and high emissions scenario (SSP5–8.5). Models project a slight decrease in annual precipitation towards the northwest (less than 50 mm) and an increase towards the southeast (more than 200 mm). Paraguay’s humid eastern part is projected to have a small growth in temperature and an increase in precipitation. In contrast, the western arid Chaco region would experience a substantial increase in temperature, while rainfall would slightly decrease.