After his early retirement (at the age of 27), he started working as coach in local Mogilev football academy.
From 1984 till 1985, he worked as director for Dnepr Mogilev and, in 1986, he was appointed as team's coach, a position he held until 2008 with brief interruptions in 1993–1994, 1995, 2003 and 2005–2007.
With Valery Streltsov as a coach, Dnepr Mogilev finished at the 2nd place in inaugural Belarusian championship in 1992 and won their only champions title in 1998.
In 2009, Streltsov partied ways with Dnepr and joined Dinamo Minsk as a general director.
In September 2002, in a Euro 2004 qualifying match against Netherlands, he acted as team's caretaker manager, replacing Malofeyev, who was unable to present at the game due to health condition.