Sergey Kapustin began his hockey career with Neftyanika Ukhta in 1970, but in 1971 joined Krylya Sovetov Moskva, playing there until 1977. With Krylya Sovetov he won the Soviet title in 1974 and the European Champions Cup title in 1975. In 1977 Kapustin joined CSKA Moskva and played there until 1980, winning three Soviet and European Champions Cup titles (1978-80). In 1980 he joined Spartak Moskva, playing with them until 1986 and then played two seasons in Austria, the first season with Innsbrucker EV and the second season with EC Salzburg, before retiring in 1988. Internationally Kapustin won Olympic gold in 1976, was a World Champion seven times (1974-75, 1978-79, 1981-83), and European champion six times (1974-75, 1979, 1981-83). He also won silver at the 1976 World and European Championships, bronze at the 1977 World and European Championships, and another silver at the 1978 European Championships. Kapustin was the top goal scorer at the 1974 World Championships with 10 goals. In 1979 he helped to win the Challenge Cup between the Soviet Union and the NHL All-Stars and in 1981 won the Canada Cup, also winning a bronze at the 1976 Canada Cup.