He scored his first La Liga goal for Málaga with a beautiful individual effort against Racing de Santander, helping Málaga win 3–0 on 14 February 2010. On 10 April 2010, Caicedo scored his first goal in two months which is his second goal in 2–1 loss against Sevilla and 4 days later on 14 April 2010, Caicedo scored again after 4 days of scoring his first goal which is his third goal in a 2–2 draw against Osasuna. On the final matchday of the domestic season, Málaga required a point to stay above the relegation zone, where they faced Real Madrid at home at La Rosaleda. Caicedo started and provided a wonderful assist for Duda to open the scoring in the ninth minute. Real Madrid levelled after the break through Rafael van der Vaart, but the early goal was enough for Málaga to avoid relegation.