Born in Valencia, Valencian Community, Soldado joined Real Madrid at the age of 15 from native region small club CF Don Bosco. After years of prolific goalscoring with the former’s reserves, he made his first-team debut on 23 October 2005 against Valencia CF, playing 18 minutes in a 1–2 home loss. Previously, on 28 September, he had scored an 86th-minute winner after just six minutes on the pitch, in the season’s UEFA Champions League match against Olympiakos FC (2–1 home win), adding a late equalizer against CA Osasuna and another in a 3–2 success at Racing de Santander as Real finished second in the league, also netting in the 4–0 defeat of Athletic Bilbao for the Copa del Rey.

On 24 July 2006, Soldado officially became the first member of Real Madrid to leave under new manager Fabio Capello and new president Ramón Calderón, moving to fellow La Liga club Osasuna on a season-long loan. Set to score goals and return as a better footballer, he stated: “The idea is to leave and have a good season with a first division team scoring goals, and to develop as a footballer”. His new team had finished fourth in the previous campaign to earn themselves a place in the third qualifying round of the Champions League, hence he chose them over a number of other Spanish clubs competing for his presence. “The following year I want to return to the Real first team. I chose Osasuna because it gives me the chance to play in the Champions League”, he said to Real Madrid’s website after his signing; he finished with a total of 13 goals across all competitions, making him the Navarrese’s top scorer.

Soldado returned to Real Madrid where, on 11 July 2007, he renewed his contract with the team until 30 June 2012. In a 21 July interview with Spanish newspaper Diario AS, he revealed that he would be wearing number 9 shirt in his second stint: “During the preseason I’ll be number 9, the number I’ve always dreamed of. When I step onto the pitch at the Bernabéu I’ll remember all the hard work it took to get here”. However, he finished the season with just five league appearances (one start, at Deportivo de La Coruña), the second with fewer minutes for the league champions.

Soldado represented Spain at all its youth levels, scoring a total of 26 goals. He was first called up to the first team in June 2007 for two UEFA Euro 2008 qualifiers, against Latvia and Liechtenstein, playing in both; he did not make it to the finals in Switzerland and Austria, however, as the nation emerged victorious.

In late July 2008, Soldado was sold to Getafe CF for €4 million, signing a four-year deal with the side from the Madrid outskirts like former Real player Esteban Granero the previous week. He scored his first goal for them on 19 October 2008 in a 1–2 away loss against Málaga CF, adding two in another away defeat, with Osasuna (2–5), two months later; in between, he was sent off in a 0–3 home loss to Valencia for a headbutt on Carlos Marchena.

On 25 January 2009, Soldado netted a hat-trick as an early substitute, in a 5–1 home win over Sporting de Gijón. On 22 March, as Getafe struggled in the league, he scored twice to secure another home triumph, 2–1 with Recreativo de Huelva. The following month he netted the opener against his first professional club, albeit in a 2–3 away defeat.

On 19 December 2009, Soldado took his league tally to ten after scoring twice in a 2–1 win at Sevilla FC – with this achievement, he became Getafe’s best ever scorer in the first division, surpassing Manu del Moral and Dani Güiza; he missed one month of competition due to injury but, in his return to action, scored from a bicycle kick, earning his side a point in the 1–1 home draw against Gijón.

On 2 April 2011, Soldado scored all of Valencia’s goals in a 4–2 away win against former club Getafe. In the next fixture, a local derby against Villarreal CF, he netted two more in a 5–0 home thrashing, and finished the season as joint-fourth top scorer as his team ranked third and qualified to the Champions League.

Soldado scored his 25th competitive goal of the campaign on 18 March 2012, netting all of his team’s goals in a 3–0 win at Bilbao. In late June, he extended his contract until 2017.

On 23 October 2012, Soldado scored a hat-trick against FC BATE Borisov in a 3–0 success for the Champions League group stage in Minsk.

On 29 February 2012, after nearly five years of absence, Soldado returned to the national team: he came on as a substitute for Fernando Llorente at half-time of a friendly with Venezuela in Málaga, scoring twice after only seven minutes on the pitch; afterwards, he won a penalty and the sending off of Fernando Amorebieta, but missed the ensuing attempt, only to close the score at 5–0 in the 83rd minute.

Valencia agreed a deal with Tottenham Hotspur for the transfer of Soldado on 1 August 2013, for a fee of £26 million, which would break the English club’s previous record of £17 million paid for Paulinho earlier in the summer. The transfer was completed four days later after a successful medical.

Soldado scored the only goal against relegation-threatened Cardiff City on 2 March 2014, his first goal in nine matches. He netted just six times in his debut season, only two of which came from open play, and was included in The Telegraph website’s list of the “10 worst buys of the Premier League season”.

On 18 October 2014, making his first league start of the campaign, Soldado set up Christian Eriksen’s goal during the match against Manchester City, also having a penalty saved by Joe Hart in an eventual 1–4 away loss. His first goal came on 30 November, the decisive in a 2–1 home victory over Everton.

On 14 August 2015, Soldado returned to his country’s top flight, signing a three-year contract with Villarreal CF for a reported £10 million. He scored in his very first appearance, helping to a 1–1 draw at Real Betis in which he started and retired injured midway through the second half.

On 13 December 2015, Soldado netted the game’s only goal to help defeat his former club Real Madrid at the Estadio El Madrigal. He missed the vast majority of 2016–17, due to an anterior cruciate ligament injury to his right knee contracted in pre-season.

On 11 August 2017, Fenerbahçe SK announced the signing of Soldado. After failing to score in his first ten games, he scored a hat-trick as a 61st-minute substitute on 19 November in a 4–1 home win over Sivasspor.

On 2 June 2019, Soldado announced that he would not renew his contract.

On 15 July 2019, Soldado signed a one-year contract with freshly promoted Granada CF, making him Diego Martínez’s fourth signing of the summer transfer window. He made his competitive debut on 17 August, starting and scoring in a 4–4 draw against Villarreal.