Regarded by many as one of the greatest defenders in the history of the game, Figueroa was noted for his elegant style of play, his composure in the centre of defense and his ability to cut out opposition attacks and immediately launch counterattacks from the back with his passing.

He began playing football in Chile with Florida High Quilpué, and later joined the youth system of his hometown club Santiago Wanderers in 1962.

His performances attracted interest from several foreign teams, and following the South American Championship in Montevideo in 1967, he was acquired by Uruguayan side Peñarol later that year.

By then Figueroa had established himself as a well-developed and highly regarded athlete; however, he was looking to develop his skills further, and his talents caught the attention of Brazilian executives.

He won further acclaim when he succeeded Pelé in being named the South American Footballer of the Year in 1974, 1975 and 1976, fighting off competition from several other world class South American footballers, such as his teammate Falcão, as well as Rivellino, Jairzinho, Carlos Alberto Torres, Zico, Nelinho, Marinho Chagas, Teófilo Cubillas, Héctor Chumpitaz, Mario Kempes, Roberto Perfumo, and Daniel Passarella.

Like many prominent ageing figures in world football at the time, in 1981 he went to the United States, where he played in the North American Soccer League for the Fort Lauderdale Strikers.

His playing style as a sweeper was frequently compared to Franz Beckenbauer, but while the German often looked for long, killer balls upfield, Figueroa typically used shorter, incisive passes to spring his teammates forward.

On 25 March 2011, Figueroa was chosen as ChangeFIFA's candidate to clean up FIFA following the scandal-hit 2018 and 2022 World Cup bid race last year.

Unless Figueroa is nominated by a national federation, FIFA president Sepp Blatter's only opponent in the elections on 1 June will be Asian football chief Mohamed Bin Hammam.

"[8] However, on 31 March 2011, Figueroa said in a statement he had decided not to accept because "in such a short period of time I could not develop a case worthy of the magnitude and importance of such a distinguished job".

[9] In 1999 Figueroa received the honorable mention of being one of the top eleven players from Latin America and in the same year he was part of a select group of the Great Masters Cup in a ceremony held in Cannes, France.