Preziosi was appointed in 2003, and Genoa was supposed to be relegated to the C1 series following an unfun season, but instead was "saved" together alongside Catania along with Catania and Salernitana due to the controversial choice of the football league expand Serie B to 24 teams. Things began to look better for Genoa as they won Serie B in 2004-05. But, there were allegations that Genoa had arranged an event on the final date of their season, between them and Venezia. The victory of 3-2 during the game resulted in Genoa take the league title, while a draw was adequate enough to hold its position at the end. However, the Disciplinary Committee of FIGC saw it appropriate to put Genoa at the bottom of the league and move them into Serie C1 with a three-point reduction on the 27th of July, 2005.
In their time during Serie C1 for 2005-06, Genoa were penalized with an extra six points from the previous season. After dominating for the majority of this season they finished runners-up and in the play-offs winning Monza by a score of 2-1 to gain promotion back to Serie B. In the summer break, Gian Piero Gasperini was brought to the club as manager. He assisted the club achieve promotion in the 2006-07 season. It was secured on the final date of their season when they played a 0-0 draw against Napoli and both clubs were promoted to Serie A.
The 2007-08 campaign, the inaugural Serie A championship played by Genoa in the last 12 years was the top ten following those who were the "big winners" in Italian football.
A cautious market day in summer that saw Genoa's chairman Preziosi strengthening the team's core as well as releasing certain players on favorable economic terms (for instance, trading forward Marco Borriello to AC Milan for a significant amount). Genoa's goals in 2008/09 were based on the UEFA Cup spot. The team was able to achieve this after a solid season that resulted in the team finishing fifth with a 5th place finish in Serie A, besting traditional strongholds such as Juventus, Roma, and Milan as well as taking home two Genoa derbies with Sampdoria as well as Diego Milito finishing among the most prolific scorers in the competition. Genoa then lost Milito as well as the midfielder Thiago Motta Internazionale and Internazionale, but managed to sign forward Hernan Crespo. The situation did not take according to plan and the team suffering from injuries lost in the initial stage of Europa League and Coppa Italia and slipping to a ninth place finishing on the table in Serie A in 2010.
In the season of 2010-11, Genoa, whose ranks had been reformed except for a handful of players who were long-serving struggling to stay in the middle of the league. A series of shaky results in the beginning of the season prompted chairman Preziosi to sack coach Gian Piero Gasperini who had been the team's leader since the 2007-08 season and to pick Davide Ballardini to succeed him. The newcomers, despite never having a memorable season, managed to keep the team in good shape in the "left portion" of the league and managed to win two derby matches in succession against the rivals Sampdoria in May and December.
The 2012-13 and 2011-12 seasons saw Genoa finishing 17th and 17th, both times only one place away from being relegated into Serie B.
In the 2014-15 season Genoa was in sixth position and poised to qualify for an entry into the UEFA Europa League qualification round was denied an UEFA license due to having filed documents late and they were not able to prove that the Stadio Luigi Ferraris wasn't in good condition required for UEFA competition. The position was transferred to 7th-placed Sampdoria.
7 September 2018 was the day that the year 125th anniversary of the club's founding was commemorated. A parade of celebrations took place in Genoa's city Genoa on the night of September 7, 2018; A banner that measured many meters was dedicated in honor of the tragic event that occurred due to the fall of the Ponte Morandi bridge.