On 22 May 2018, Oliveira replaced João Henriques as manager of another former side, Paços de Ferreira. In May 2019, having sealed his eleventh promotion and sixth as champion, he left for yet another former employer Gil Vicente – who had been restored to the top tier in a court decision. On 10 August, in their first game of the season, they beat FC Porto 2–1 at home; they finished in tenth, after which he left.