Career
Much of his coaching career has taken place in Cyprus. In 2006 he joined Olympiakos Nicosia, but was replaced by Juan Ramon Rocha in October 2006. He was the coach for Metalurh Donetsk from 2008 to 2010, a role from which he resigned in November 2010.
On the 4 November 2011 he was revealed as the new manager of Levski Sofia.
His contract ran until the end of the 2011-2012 season. He resigned from his position on 26 March 2012, after enduring his first and only defeat with the club - a 0:1 home loss against Minyor Pernik.
In late July 2012, Kostov was appointed as the new head coach of Karpaty Lviv. On 11 November 2015 Nikolay Kostov was appointed at the new head coach of.
