In the 1980s, a new generation of players emerged at Standard. Noted manager Ernst Happel was hired, and later the club brought Raymond Goethals back to Belgium. Players like Arie Haan, Guy Vandersmissen, Michel Preud'homme, Walter Meeuws, Jos Daerden and Simon Tahamata became key players, whilst Gerets was the captain of the team. In 1980, Standard finished runners-up in the league, before winning the 1981 National Cup with a 4–1 win over Lokeren SC. In 1982, Standard won the title by beating Waterschei SV Thor in the last match of the season. A few days later, they faced Barcelona in the European Cup Winners' Cup final, which they lost 2–1. The influence of Gerets on Standard's success was recognised when he was awarded the 1982 Belgian Golden Shoe. The following year he captained Standard to another league title, their ninth overall, which would prove to be their last until 2007–08.
In 1980, Gerets played in his first European Championship in Italy. He scored the opening goal in a 2–1 win against Spain which ensured Belgium qualified as group winners. The tournament is remembered for the inspired performance of the offensively-minded Belgium (around rising stars such as Jan Ceulemans, Eric Gerets, Jean-Marie Pfaff and Erwin Vandenbergh) who unexpectedly reached the final, only losing to West Germany (1–2) by a Hrubesch goal two minutes from time.