He was known for his sharp finishing ability and represented clubs in Sweden, Denmark, Italy, the Netherlands, England, and Germany during a career that spanned between 1992 and 2009.

He then proceeded to have two modest loan stints abroad, with Lyngby Boldklub and A.S. Bari of Serie A, before rejoining his first club.

On 1 November 2006, he scored the winning goal in a 1–0 UEFA Champions League group stage game against Manchester United.

After the final home game of the Danish Superliga 2006–07 season, he was presented with the fans' Player of the Year award, as the side emerged back-to-back champions, and the striker netted 11 league goals.

On 6 September, he scored twice to help propel Sweden past visitors Liechtenstein 3–1 in the second of their 2008 European Championship qualifying matches.

On 6 June 2007, during Euro 2008 qualifiers, Allbäck scored a highly surreal goal against Iceland when an opponent, Ívar Ingimarsson, gave him the ball incorrectly thinking a free kick had been awarded.

[7] After Sweden's group stage exit from Euro 2008 (in which he played as a second-half substitute against Russia in Innsbruck), Allbäck announced that he would retire from the national team, ending his international career with 74 caps with 30 goals.