Dermendzhiev spent his entire professional career with Botev Plovdiv, playing for the club for 19 years during the 1960s and 1970s.

He made 58 appearances for the Bulgaria national football team and scored 19 goals from 1966 to 1977.

On 30 September 1981, under his guidance the club achieved a glorious 1–0 victory over FC Barcelona.

He would also coach local rivals Lokomotiv Plovdiv, as well as Shumen, Lokomotiv Sofia, Spartak Pleven, Maritsa Plovdiv, Omonia Aradippou, Hebar Pazardzhik, Chernomorets Burgas, Bulgaria U21, and have a short spell at Levski Sofia where he achieved 8 wins and 2 draws in 1991.

This biographical article related to association football in Bulgaria, about a midfielder, is a stub.