The second Gran Alternativa of 1999 was held December 17, 1999 in Mexico City, Mexico and did not feature any wrestlers from the first 1999 Gran Alternativa tournament. Scorpio, Jr. and Fugaz defeated Lizmark, Jr. and Sombra de Plata in the first round and Negro Casas and La Flecha in the second round. El Felino and Tigre Blanco qualified for the finals by defeating Máscara Año 2000 and Sangre Azteca and the team of Ringo Mendoza and Ricky Marvin and then finally defeated the team of Scorpio, Jr. and Fugaz in the final to win the Gran Alternativa tournament.
Tournament brackets[]
| Quarterfinals | Semifinals | Finals | |||||||||||
| Apolo Dantés and Alan Stone | |||||||||||||
| Ringo Mendoza and Ricky Marvin | |||||||||||||
| Ringo Mendoza and Ricky Marvin | |||||||||||||
| El Felino and Tigre Blanco | |||||||||||||
| El Felino and Tigre Blanco | |||||||||||||
| Máscara Año 2000 and Sangre Azteca | |||||||||||||
| El Felino and Tigre Blanco | |||||||||||||
| Scorpio, Jr. and Fugaz | |||||||||||||
| Lizmark, Jr. and Sombra de Plata | |||||||||||||
| Scorpio, Jr. and Fugaz | |||||||||||||
| Scorpio, Jr. and Fugaz | |||||||||||||
| Negro Casas and Flecha | |||||||||||||
| Negro Casas and La Flecha | |||||||||||||
| Bestia Salvaje and Motocross | |||||||||||||
