Early career Iliev started his career in his home town
Vratsa, where he played for the local team
Botev Vratsa. In June 2001 he signed with Ukrainian club
Metalurg from
Zaporizhzhya, where he played 21 matches and scored one goal.
CSKA Sofia In November 2004, Iliev joined
CSKA Sofia. He collected his first
A Group title winner's medal at the end of the
2004–05 season. Iliev scored 4 league goals in 18 matches that season. On 23 August 2005, Iliev scored a goal, which helped CSKA secure a historic 1–0 away win over
Liverpool in the third qualifying round of the
Champions League. However, it did not help them qualify for the Champions League group phase, as the "armymen" were eliminated after an aggregate score of 2–3, having lost their home game. He developed a knack for scoring key goals for CSKA, making good use of his powerful heading ability. In April 2006, Iliev was given the captain's armband, as
Emil Gargorov was stripped from that role as a result of loss in the
Eternal derby of Bulgarian football against
Levski Sofia. In July 2006, it was announced that Iliev would be CSKA's permanent club captain. On 30 July, he captained the team that won the
2006 Bulgarian Supercup against
Levski Sofia. Iliev helped CSKA to keep a clean sheet throughout the match, as they defeated Levski 3–0 on penalties. On 28 September 2006, he scored his second-ever European goal in a 2–2 home draw (after
extra time) against
Beşiktaş in the first round of the
2006–07 UEFA Cup. Despite some disciplinary issues, most notably his physical confrontation with
Jose Emilio Furtado in May 2007, resulting in Iliev being stripped of the CSKA
captaincy, he remained a cult figure for CSKA fans.
Terek Grozny Iliev signed with Russian side
Terek Grozny in February 2008 on a two-and-a-half-year deal for a reported fee of €750,000. His first goal in the
Russian Premier League came on 3 August, scoring the only goal in a 1–0 home win over
Saturn Ramenskoye. On 23 August, he scored the winning goal for a 2–1 win against
Lokomotiv Moscow. On 2 November 2008, Iliev scored another vital goal, this time a last-minute equaliser, in a 1–1 home draw against
FC Moscow. Iliev left Terek in February 2010, cancelling his contract by mutual agreement two months before it expired.
Universitatea Craiova On 11 February 2010, Iliev signed a one-and-a-half-year contract with
Romanian club
Universitatea Craiova as a free agent.
Steaua București In February 2011, Iliev signed a contract for one and a half years with
Steaua București. On 19 December 2011, Iliev scored his first goal for Steaua against
CSU Vointa Sibiu in a
Liga 1 match, goal which proved to be decisive.
Volyn Lutsk On 12 July 2012, Iliev joined Ukrainian club
Volyn Lutsk on a two-year deal.
Return to CSKA Sofia On 16 July 2013, Iliev re-signed with
CSKA Sofia and was announced as CSKA's new club captain. He made his second CSKA debut in a 0–0 home draw against
Cherno More on 3 August. Iliev scored his first goal since his return to the club on 24 August, scoring an equaliser, away to
Lokomotiv Sofia in a 1–1 draw. On 16 April 2014, he signed a one-year contract extension, keeping him at CSKA until 30 June 2015. He ended
2013–14 season with 4 goals in 28 matches. In October 2014, Iliev underwent an ankle surgery on his right foot. Following surgery, he was ruled out for about three months. He returned to first team action in April 2015.
Universitatea Craiova On 29 September 2015, Iliev signed a one-year contract with Romanian club
Universitatea Craiova as a free agent. ==International career==