As a manager, he won the Swedish league title with AIK in 1992. Later he went on to coach the Swedish U21 national team, and when Tommy Svensson left his job as national team manager in 1998, the path was open for Söderberg. He took Sweden to the Euro 2000 tournament. The same year Lars Lagerbäck was promoted from assistant coach to joint coach together with Söderberg.
Under management of the new coaching duo, Sweden qualified for the 2002 FIFA World Cup and Euro 2004. After the European Championship, Söderberg decided to leave his position and returned to coach the U21 team which he is currently managing together with Jörgen Lennartsson.