Levy started his career as a striker in the youth teams of Maccabi Netanya. He was a prolific scorer and was promoted to the first team in 1985. After five seasons in the shadow of then domestic superstars Oded Machnes and David Lavi, he was loaned to Bnei Yehuda in the transfer window of season 1989–90, where he won his first championship title. After two years back in Maccabi Netanya, Levy transferred to Maccabi Haifa in 1992 where he was positioned as a defender. After a few games his role was changed to defensive midfielder, the position he would occupy until the end of his playing career. Levy played a major role in Maccabi Haifa's championship in the season of 1993–94. He retired from playing in 1997 due to a serious injury of his knee.
International career
He has sixteen international caps with the Israeli national team.
As a manager
With retirement, Levy was given a coaching position in one of Maccabi Haifa's youth teams. After two years in the youth department, he was made assistant manager of the first team, under the management of Eli Cohen. Cohen resigned his position in the last stages of the 1999–2000 season, and was replaced by Levy for a few games. At the end of the season, Levy returned to the youth department, this time as head coach of the first youth team for the next three years, where he was very successful, making both cup and league titles in his last year there. As the season of 2002–03 ended, and manager Itzhak Shum left the club to go to top Greek club Panathinaikos, Levy was given the position of first team manager. His appointment met serious doubts from both news media and fans, who suggested he was not experienced enough to fill one of the most desirable and prestigious roles in Israeli football. Levy answered the critics with three domestic championships in a row in his first 3 years of managing Maccabi Haifa, one Toto Cup Al, and a qualification to the UEFA cupgroup stage in 2006–07. Levy is one of the first managers in Israeli football to use computer software as a tool for measuring the players' performance and a means for tactical analysis. In 2006, Levy received a "manager of the year" award from both major Israeli newspapers, 'Yedioth Ahronoth and Maariv. After seasons 2006–07, 2007–08 which were considered as failure after failing to challenge for the title, finishing 5th in both seasons, he decided to leave the club and was replaced by Elisha Levy. On 22 December Levy signed with Maccabi Petah Tikva for a year and a half. One 22 November after less than a year with the Petah Tikva side Levy decided to quit. On 31 December 2009 Levy signed with Unirea Urziceni for a contract worth $600,000 to manage the team for a year and a half. His first game in charge was against Liverpool at Anfield in the UEFA Europa League on 18 February 2010 where the visitors lost 1–0. On 17 January 2011, Levy signed with Beitar Jerusalem. On 10 June 2011, Steaua Bucharest presented Ronny Levy as the new head coach of the team. He was fired on 30 September 2011 after a draw against AEK Larnaca in the UEFA Europa League. The next day, 1 October, he signed a contract for a year with Anorthosis Famagusta. He was sacked on 1 April 2013. On 6 December 2013, Levy made his return to Beitar Jerusalem. On 14 January 2015, Levy signed with Maccabi Netanya. On 18 May 2015, Levy made his return to Maccabi Haifa, signing a three-year contract. On 26 October 2016, Levy made his return to Anorthosis Famagusta after signing 18-month contract. He left the club in September 2018.