After being relatively used in a Cantabria side that achieved a first-ever qualification to the UEFA Cup – netting in a 2–0 away victory over CA Osasuna on 13 January 2008– Álvarez returned to Galicia and Deportivo.
Following a successful run with a Cantabria team that secured their first ever UEFA Cup qualification by defeating CA Osasuna 2-0 in an away match on January 13, 2008, Álvarez rejoined his former club, Deportivo.