Oleg Protasov had worn a Dynamo Kiev #10 jersey for 3 years (1988-1990). He came to Kiev from Dnepr Dnepropetrovsk, where he became the second leading scorer in Europe in 1985 with 35 goals. Throughout his career in USSR, he scored 100 goals in USSR Championships, 70 in Dnepr and 30 in
Dynamo Kiev. He was a part of USSR National team at two World Cups (1990 and 1986) and at European Championship Finals (1988).
In September 1990, Oleg received a seemingly lucrative contract with Olympiakos Athens (Greece), where he went to play with his former Dynamo Kiev and Dnepr teammate Gennadiy Litovchenko. There he was coached by a former Dynamo Kiev great Oleg Blokhin. Although Protasov never reached his potential playing in Athens, he still scored 12 goals a season on the average, but became enveloped in a protracted contract dispute with the management, that had tried to scheme him out of some of his earnings. Oleg Protasov had been forced to leave Greece. In 1993-1995, he played in Japan in the Japanese proffessional soccer league, where he continued to score well. In 1998-1999, Oleg returns to Greece to coach the second division Veria FC. In 2003, he was chosen, in the midseason, to take over the Olympiakos Pireaus head coach position. He led Olympiakos to 2002/2003 Greek Championship. Oleg briefly, in 2005, coached Romanian Steaua.