Mykhaylychenko currently holds an administrative position at his home club, Dynamo Kyiv, as director of sport.

[2] Mykhaylychenko began his football career in the youth system of Dynamo Kyiv, under the guidance of Anatoliy Byshovets.

He made his debut in the Soviet Top League in 1981, and went on to have a great career with Dynamo, winning four championships and three runner-up medals.

[4] His first season at Ibrox was undoubtedly his most successful, as they completed the double of the Premier Division title and Scottish Cup and Mykhaylychenko was a regular in the side with 10 goals from 27 league games.

Then came the arrival of wide man Brian Laudrup, whose presence in the team restricted Mykhaylychenko to a mere nine league appearances and two goals in 1994–95.

After retiring from playing in 1996, Mykhaylychenko went back to Ukraine to begin coaching under the legendary Kyiv manager Valeri Lobanovsky, remaining his assistant for five years.

On 16 June 2006, it was reported that Mikhailichenko would take over as head coach of Scottish Premier League club, Heart of Midlothian.

The club's official website cited playing level and the lack of progress as main reasons for his departure.

[9] In May 2021, became Vice-President of the Ukrainian Association of Football, promoted by the commander of Andriy Pavelka, who will be pratsyuvati in the UAF.