Purpose. The study investigated the effect of active recovery (Ar) and cold-water immersion (CWI) recovery strategies on the speed of recovery after small-sided games (SSGs) in soccer players. Methods. A crossover design was employed to divide 24 male soccer players from a first division Iranian National League (age: 22.3 ± 2.6 years) into 4 experimental conditions: active-active, active-CWI, CWI-active, and CWI-CWI. Heart rate (Hr) variations (standard deviation of normal r-r intervals [SDNN], log-transformed root mean square of successive r-r intervals [lnrMSSD]) and self-reported indices (Hooper questionnaire and rate of perceived exertion [rPE]) were measured. Twenty-four hours after SSGs, the players performed one of the recovery strategies. Forty-eight hours after the session, they completed a 20-m sprint test; changes were compared with baseline. Results. A significant difference in SDNN Hr variations between Ar and CWI recovery strategies (F = 4.86, p = 0.03, 2 = 0.31) was noted. regarding within-experimental condition changes (F = 60.82, p = 0.001, 2 = 0.85), significant differences were detected when comparing data recorded before SSGs and immediately after SSGs (p = 0.001), as well as for data recorded before SSGs and immediately after recovery (p = 0.001). There was also a significant difference in lnrMSSD Hr variations when Ar and CWI were compared (F = 2.41, p = 0.033, 2 = 0.29). Within-experimental condition changes (F = 127.9, p = 0.001, 2 = 0.74) indicated significant differences between data recorded before SSGs and immediately after SSGs (p = 0.001), as well as between data recorded before SSGs and immediately after recovery (p = 0.001). No significant difference was found between the SDNN index of Hr variability for different recoveries (p = 0.055, 2 = 0.07). Moreover, no significant differences were noted between recovery strategies in terms of Hooper index (p = 0.832, 2 = 0.11), rPE (p = 0.41, 2 = 0.06), or 20-m sprint test (p = 0.78, 2 = 0.02). Conclusions. CWI showed a greater effect than Ar in restoring the impaired vagal-related Hr variability indices observed immediately after SSGs. However, no advantage was observed between the recovery strategies.