Cavani was shown a second yellow card midway through the second half of the game for lightly slapping Jara, after the former West Brom player appeared to grab the striker’s bottom.
Jara avoided a card, but he could now face retrospective punishment after South American football officials confirmed they will look into the incident.
Alberto Lozada, a member of CONMEBOL’s disciplinary panel, said that the governing body “will open an investigation” that could lead to a suspension.
Chile eventually won the game 1-0, but a suspension would force Jara, who has also played for Brighton and Nottingham Forest, to miss the hosts’ semi-final on Monday night.
Uruguay manager Oscar Tabarez has defended Cavani following his dismissal: “You can see what happened and what the challenge was,” he said. “I refer you to the television and photos of it, it is all there.”