In December 2014, Ouzounidis was appointed as manager of Panionios, with which he had a high rate of success over two domestic campaigns, having recorded 28 wins and 20 draws over 70 games he was in charge for. On 10 August 2016, his contract with the club was terminated unilaterally, mainly because of disloyalty issues raised by the board, due to Ouzounidis simultaneously being in talks with Olympiacos over a potential career move.
