Kapustin played thirteen seasons with the Soviet Union national team. He was part of the team that won seven Gold Medals at the Ice Hockey World Championships in 1974, 1975, 1978, 1979, 1981, 1982, 1983. Kapustin was voted to the first All Star team at the 1978 and 1981 tournaments. He played for the Soviet Union team in the 1974 Summit Series, the 1976 Canada Cup, the Gold Medal team at the 1976 Winter Olympics, the 1979 Challenge Cup, and the 1981 Canada Cup. He was voted the "best forward" award at the 1978 Izvestia Cup.
Kapustin was selected by the New York Rangers of the National Hockey League (NHL) in the 1982 NHL Entry Draft, as they believed it possible he might go to North America.
Sergei Kapustin was inducted into the Russian and Soviet Hockey Hall of Fame in 1975. He retired in December 1985 after that year's Izvestia Cup tournament. He died of a heart attack in 1995 at age 42.

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