In 1993, O'Billovich returned to the Argonauts as general manager. The Argos began that season poorly, and O'Billovich took over as head coach on September 10, 1993. He coached for the remainder of the 1993 season and for the entirety of the 1994 season. At the end of the 1994 season, O'Billovich relinquished the head coach position to concentrate on his general manager duties. The Argos again had a poor start for the 1995 season and O'Billovich took over as head coach for the final nine games after firing Mike Faragalli; the team finished the season with a lackluster 4–14 record. He finished with 89 career regular season wins as a head coach of the Argonauts, which is the most in franchise history.