Olímpic returned to the third division – renamed Segunda División B – in 1977, finishing in eighth position in its debut season but bottom of the charts in the following campaign, eventually slipping back to "Preferente" in 1982. It returned to the third tier in 1987–88 under the guidance of coach Benito Floro (later of Real Madrid), and the club finished in a best-ever fourth position in the category, missing out on promotion in the final day of the season against UD Alzira. In 1991 it returned to level four, remaining there for the vast majority of the following two decades, with five years spent in the regional leagues.