Álvarez made his professional debut in Argentina for River Plate in 1998. In 2002, he moved to Serie B to play for Reggina. However, he returned to the Americas a year later, joining Morelia of the Liga MX. Álvarez played a significant role for the team that season, playing in 16 games, 13 starts, and scoring three goals and helped them reach the league final but lost to Monterrey. He remained a consistent starter for the team and started a total of 60 games for the team, scoring nine goals.