Born in Bad Schwalbach, West Germany, During his career as a football player, Erol Bulut achieved notable successes.

In 1995, he transferred from Eintracht Frankfurt to Fenerbahçe in Turkey, where he secured the Süper Lig title in the following season.

From 2008–09, he joined Greece's second division club Olympiacos Volos, eventually moving to OFI in January 2011 and securing promotion to the Super League.

In September 2017, he became a head coach for the first time at Yeni Malatyaspor, a newly promoted team, successfully ensuring their place in the top-tier league.

In the subsequent 2018/19 season, he guided the Anatolian club to the semi-finals of the Turkish Cup, where they were eliminated by eventual winners Galatasaray.

In the following season 2020–21, Bulut returned to his initial professional playing club, Fenerbahçe, to assume the position of head coach.