After a short absence, he returned to Armenia, where he led the home team of his birthplace. During a time Oganesian briefly left to coach the Armenia national football team, the club had at that time changed its name from Kilikia Yerevan to Pyunik Yerevan. The following season, Oganesian returned to the Yerevan club. Oganesian, at this time, was a player-coach for the club. With the second return of Hovhannisyan also came some important highlights in the history of the club. During his first season, there had been issued due to an injury of his. In the second season, the team won the 1996–97 Armenian Premier League. The club won the 1996 Armenian Cup that same season for the first time. Oganesian also led the squad to victory in the Armenian Supercup in 1996 and 1998. In August 1998, Oganesian left the club and was replaced by David Ghazaryan.