Luís Miguel Afonso Fernandes, universally known as Pizzi, was born in Bragança and took his nickname from playing as a child in a Barcelona shirt bearing the name of the Argentine striker Juan Antonio Pizzi. He began in the third tier with his hometown club, joined Braga's youth setup in 2008 and made his professional breakthrough on loan at Covilhã before spells with Paços de Ferreira, Atlético Madrid, Espanyol and Deportivo La Coruña.

Benfica signed him on 26 July 2013 on a six-year contract, paying around six million euros for half of his economic rights, and loaned him straight back to Espanyol. He returned in 2014 and became one of the defining players of the club's most successful modern era, converting from winger to creative central midfielder. Across eight seasons he made 360 appearances and scored 94 goals, winning four Primeira Liga titles among ten domestic honours, and was named Primeira Liga Player of the Season for 2016/17.

His relationship with the club deteriorated in 2021/22 and he left on loan in February 2022. On 28 July 2022 Benfica sold him to Al Wahda of the UAE Pro League.