Guerrero tormented visiting Danubio at Arena Corinthians in Sao Paulo, scoring once in the first half before completing his hat-trick with two more goals after the interval.
The resounding victory saw Corinthians improve to 12 points from four Group Two fixtures, six clear of Sao Paulo and reigning champions San Lorenzo, who won 1-0 earlier on Wednesday.
Guerrero doubled the home side's advantage seven minutes later, diving low to head Elia's cross past Danubio goalkeeper Franco Torgnascioli.
Guerrero netted his third in the 68th minute, when he managed to get a boot to Jadson's free-kick - taking his tally to eight goals in six matches in all competitions.
Meanwhile, San Lorenzo joined Sao Paulo on six points thanks to a 1-0 win over their group rivals in Buenos Aires.
Uruguayan forward Martin Cauteruccio's 71st-minute strike was all that separated the teams as San Lorenzo kept their qualification hopes alive.
