Mikhail Vasilyev began his hockey career with CSKA Moskva in 1981 and played there until 1988. With CSKA Moskva Vasilyev won eight Soviet and European Champions Cup titles (1981-88). He then played one season with Torpedo Yaroslavl, before playing in Italy from 1990-2001, while having short spells with Torpedo Yaroslavl in 1994-1995 and in Denmark with Rødovre IK in 1997-1998. In Italy he played with HC Selva, AS Varese, EV Bozen 84 and finished his career with HC Bolzano. Internationally, besides his 1984 Olympic gold, Vasilyev was a World Champion in 1983 and 1986 and European Champion in 1983 and 1985-1987. He also won a silver at the 1987 and a bronze at the 1985 World Championships and won a bronze at the 1984 Canada Cup. After his playing career, Vasilyev worked as a coach with HC Bolzano.