Etzebeth, 32, equalled the record of fellow lock Victor Matfield when he replaced captain Salmaan Moerat in the 48th minute at the Estadio Unico Madre de Ciudades.
He is set to claim the record on his own when the Springboks play a return match against Argentina in South African city Mbombela next Saturday.
Since making his debut against England in 2012, the 2.03 metre, 122 kilogram Etzebeth has become a key player for the Springboks with his dominant presence in line-outs, scrums and open play.
He was part of South Africa's winning Rugby World Cup teams in 2019 and 2023 and also has a series win against the 2021 British and Irish Lions to his credit.
Etzebeth was named South Africa's Rugby Player of the Year in 2022 and 2023.
Matfield paid tribute to Etzebeth on South African television channel SuperSport in the build-up to Saturday's match.
"You always want that one guy that when you run on to the field, the other pack know there's no chance you're taking on this one guy because he's always stronger, he will always put you on the back foot," said Matfield.
The world record for most caps belongs to Alun Wyn Jones, another lock, who played 171 times for Wales and the Lions between 2006 and 2021.
