At the age of 16, Serebrennikov moved from Ulan-Ude, in the east of Siberia, to Moscow where he would go to a sports school for 5 years. During this period, he played for football teams as Shinnik Yaroslavl, Vympel Rybinsk and Dynamo Vologda.
In 1999 when Serhiy was 22, he took on the Ukrainian citizenship, after his move to Dynamo Kyiv. So far, he has played 12 times for Ukraine, scoring once. Even though Johan Cruijff had words of praise for Serebrennikov, he never managed to fulfil the expectations in Kiev.
In 2002, Serebrennikov was transferred to Belgian First division side Club Brugge. Due to injuries, he has only played 46 times for Club between 2002 and 2006.
In the 2005-2006 season, Serebrennikov was loaned for a half season to Charleroi SC. One season later, he was loaned for the whole season to Cercle Brugge, breaking his fibula during training in the first week of his loan.
Serebrennikov signed a 4 year deal with Cercle Brugge, starting with the 2007-2008 season. He signed his contract while he was playing on loan with Cercle.
On 30 June 2011, it was announced that Serebrennikov would be loaned out for the 2011-12 season to become player-manager at SV Roeselare.