Eriksson was manager of Fiorentina from 1 July 1987. Eriksson's stint with the club was trophyless, and he moved back to Benfica for a second stint in 1989. Eriksson led the Portuguese side to the final of the 1989–90 European Cup (losing to Milan 1–0) in 1990, and another Primeira Divisão title in 1991. Eriksson left the club in June 1992.