Oļegs Malašenoks was born in Riga, as a youth player he played for his local club Multibanka Rīga in the Latvian First League.
Scoring 13 goals in 34 games in a period of 2 seasons, the youngster was soon signed by the Latvian Higher League club FK Jūrmala in 2004.
[1] In the winter transfer period of 2009 Malašenoks went on trial with the Bulgarian club Cherno More Varna and Scottish side Dundee, but didn't stay with these teams and returned to Latvia.
In 2010, when his contract with the Maltese side had already ended, Malašenoks returned to Latvia and joined the higher league debutant club FK Jelgava.
[10] In 2014 Malašenoks helped Jelgava win the Latvian Cup and attain bronze medals of the domestic championship for the first time in the club's history.