Once Caldas
After leaving New York, on 18 November 2009 Osorio was hired by Once Caldas. After taking charge of a team that was in danger of relegation Osorio helped Once Caldas to a league title in 2010. In 44 matches in charge, he recorded a record of 23 victories, 8 draws, and 13 losses. In January 2011 it was reported that Osorio would be leaving Once Caldas to take charge of the Honduras national team.