Hired in November 1989, Piniella managed the Cincinnati Reds from 1990 through 1992. In his first year, the Reds won the World Series in a four-game sweep of the heavily-favored Oakland Athletics, who were the defending champions. His three-year contract totaled over $1 million. Following his third season, he announced in October that he had rejected a contract extension. He finished with a record of 255 wins and 231 losses.
In 1989, Piniella worked as a color analyst for Yankees telecasts on MSG Network. After parting ways with the Devil Rays in 2006, Piniella spent one season as an analyst for Fox Sports, joining Thom Brennaman and Steve Lyons in calling postseason baseball games.