Benfica

Born in Vila Franca de Xira, Lisbon District, Cavaleiro played youth football for five clubs, notably representing S.L. Benfica from ages 13–18, a loan spell notwithstanding. He made his senior debut in the 2012–13 season, playing his first Segunda Liga match with the reserves on 11 August 2012 against S.C. Braga B.^[3] The following weekend he scored his first goal(s) as a professional, grabbing a brace in a 4–2 away win over C.D. Feirense,^[4] and added another two before the end of the month in a 6–0 home rout of C.F. Os Belenenses;^[5] he finished his first year with 38 appearances and 12 goals, helping his team to the seventh position.^[6]

Cavaleiro started his second season with Benfica B in fashion, netting seven times in ten matches and earning the Second Division Player of the Month award for August/September.^[7] He made his official debut for the main squad on 19 October 2013, playing the full 90 minutes against CD Cinfães in the third round in the Taça de Portugal and assisting Ola John for the game's only goal.^[8] He appeared in his maiden match in the UEFA Champions League four days later, playing the second half of a 1–1 home draw with Olympiacos F.C. in the group stage.^[9]

On 15 January 2014, Cavaleiro scored his first competitive goal for Benfica, the last in a 2–0 win against Leixões S.C. in that campaign's Taça da Liga.^[10] On 7 August, he was loaned to Deportivo de La Coruña of the Spanish La Liga for one year,^[11] making his debut on the first matchday and opening the scoring in a 2–1 defeat at Granada CF.^[12]

Monaco

On 10 July 2015, Cavaleiro joined AS Monaco FC on a permanent deal until 2020,^[13] for a transfer fee rumoured to be €15 million.^[14] He made his debut on the 28th, starting in a 3–1 away win over BSC Young Boys in the Champions League third qualifying round, and scored his first goal in the second leg, opening a 4–0 victory at the Stade Louis II.^[15]

Wolverhampton Wanderers

On 31 August 2016, Cavaleiro moved to English Championship side Wolverhampton Wanderers on a five-year deal (with the option of an additional year) for an undisclosed fee, reported to be a new club-record sum of £7 million.^[16][17] He made his debut on 10 September in a 1–1 home draw to Burton Albion,^[18][19] and scored his first goal for the club 14 days later in a 3–1 win against Brentford also at Molineux Stadium.^[20]

Cavaleiro was voted the Professional Footballers' Association Fans' Championship Player of the Month for November 2017, after netting four times in as many games.^[21] The previous month, he had provided five assists to keep his team clear at the top of the table;^[22] he finished the season with nine goals from 42 appearances, adding 12 decisive passes and achieving promotion to the Premier League as champion.^[23]

Cavaleiro's first match in the English top division occurred on 29 September 2018, and he scored once in the 2–0 home victory over Southampton with his very first touch of the ball after coming on as a substitute in place of compatriot Diogo Jota.^[24]

Fulham

Cavaleiro signed for Fulham on 13 July 2019 on a season-long loan, with the option to make the move permanent afterwards.^[25] On 21 August, he put on a player of the match performance in the 4–0 home win against Millwall, scoring twice and providing one assist.^[26]

On 7 January 2020, Cavaleiro agreed to a permanent four-and-a-half-year contract.^[27] In the 2021–22 campaign, as the club returned to the top tier as champions, he dealt with several injury problems.^[28][29]

In September 2022, Cavaleiro was loaned to Alanyaspor of the Turkish Süper Lig for one year.^[30][31]

Lille

Cavaleiro returned to the French Ligue 1 on 11 August 2023, on a one-year deal at Lille OSC.^[32]

Youth

Cavaleiro was named in the Portugal under-19 squad at the 2012 UEFA European Championship,^[33] playing the last match of the group stage against Greece. A year later, he represented the under-20 team at the 2013 FIFA U-20 World Cup; he appeared in four games as a substitute in Turkey,^[34][35][36] in an eventual round-of-16 exit.

Cavaleiro made his debut for the under-21s on 14 August 2013, netting a hat-trick in a 5–2 friendly win against Switzerland.^[37] On 27 June 2015, he scored Portugal's third goal in a 5–0 rout of Germany in the semi-finals of the European Championship in Czech Republic;^[38] he was named in the Team of the Tournament, in an eventual runner-up finish.^[39]

Senior

On 28 February 2014, Cavaleiro received his first callup to the Portugal senior side, for a friendly with Cameroon on 5 March.^[40] He started and played 70 minutes in the 5–1 victory in Leiria.^[41]

Cavaleiro was selected by Angola manager Pedro Gonçalves for 2022 FIFA World Cup qualifiers against Egypt and Libya on 2 and 7 September 2021, respectively.^[42] He was not included in the final squad, however.^[43]