Having helped Sweden win the gold medal in the 1948 Olympic tournament, Liedholm was the captain of the national squad at the 1958 World Cup, celebrated in his home country. Aged almost 36, he helped Sweden to reach the World Cup final, where the team lost out to a Brazil side that included Didi and 17-year-old Pelé. Liedholm scored the opening goal of the final, which makes him the oldest player to score in a World Cup Final; however, Brazil came back and won the match 5–2.