Petersson advanced to the semifinals in archery at the 2000 Summer Olympics, but was defeated there by Vic Wunderle.

In the consolation bronze medal match, he again lost, this time to Wietse van Alten.

He won the World Indoor Championships in 1995 and 1999, and became the first male archer to win this tournament twice.

At the 2008 Summer Olympics in Beijing Petersson finished his ranking round with a total of 646 points.

This gave him the 49th seed for the final competition bracket in which he faced Crispin Duenas in the first round.