Calderón played in several teams including Argentine Racing Club de Avellaneda and Club Atlético Independiente, Spanish Real Betis and French Paris Saint-Germain. He was part of the Argentina Under-20 team that won the 1979 FIFA World Youth Championship, and also played in the 1982 FIFA World Cup in Spain and in the 1990 FIFA World Cup in Italy. After his retirement, he managed Caen, Lausanne Sports and several teams in the Middle East including the Saudi Arabian national team, Omani national team, Al-Ittihad, Al-Hilal, Baniyas, Bahraini national team, Al-Wasl, Qatar SC and Persepolis F.C.. He also managed La Liga side Real Betis.