Heredia started his playing career in 1969 with San Lorenzo in Argentina. He was part of the squad that won both league titles in 1972. He joined Atlético Madrid in 1973 and played in the 1974 European Cup Final. An undisputed starter in his first three years, he lost his regular place in the 4th due to injuries (as atletico won the league title). He then moved to Paris Saint-Germain, where again he would be used rarely. After two seasons with the latter, he chose to retire.