Elliot grew up in south-western Edinburgh, attending Bonaly Primary School then Firrhill High School. He signed for Hearts in 2004, having previously played with their youth initiative and Salvesen Boys Club. He made his first team debut as a substitute against Inverness Caledonian Thistle early in the 2004–05 season. He scored his first Hearts goals in the 5–0 win over Falkirk in December 2005. Less than a week later he signed a new three-and-a-half-year deal with the Jambos. His form during the 2005–06 season ensured he was considered a possible candidate for the 2006 Scottish PFA Young Player of the Year, although the title was won by Kilmarnock’s Steven Naismith. Elliot was surprised to find himself available for loan at the beginning of the 2006–07 season, although his initial anger and disappointment were replaced by an acceptance of the benefit of regular first team action. Despite interest from Dunfermline Athletic and Falkirk, Elliot eventually joined Motherwell on loan. In May 2008, Elliot was linked with a move to Scottish First Division side Dunfermline Athletic. Inverness Caley Thistle were also reported to be looking at the unsettled striker in June 2008. Elliot travelled south for talks with League 1 side MK Dons, but eventually signed for Livingston on a loan deal, where he scored 11 goals in thirteen appearances. Elliot started in his first match for Hearts since returning on loan from Livingston on 4 April 2009 against Kilmarnock, scoring twice in a 3–1 win. Thanks to this display, Elliot won the SPL Young Player of the Month for April 2009.

While Elliot was playing for Hearts, Hibernian defender Darren McCormack was arrested for an alleged assault on Elliot on 22 March 2009 near an Edinburgh nightclub.

Due to injury appearances were limited and he failed to score any goals during the 2009–10 season. The following season Elliot scored three goals in the first two games of the 2010–11 season with his fourth goal coming against Inverness Caley Thistle in a 3–1 victory for Hearts. Due to an ongoing knee injury his appearances were limited and had to undergo surgery which ruled him out of the end of the season. Having built his fitness back up on 4 November 2011, he signed for Scottish First Division side Dundee on a month’s loan. Making his debut the following day against Partick Thistle Only 30 seconds into the match he suffered a recurrence of his knee injury and despite trying to play on had to be stretchered off after four minutes. The injury was not as bad as first feared and he missed only one game before returning as a substitute in Dundee’s 2–1 win over Stirling. His loan was later extended until the 31 December. With Hearts in financial difficulty and looking to cut their squad, on 12 December 2011 it was announced the Elliot had come to an agreement with Hearts to end his contract with the club early. His contract expired on 1 January 2012.

Having turned down an offer to join Houston Dynamo on a weeks trial, Elliot agreed a two-year deal with Lithuanian A Lyga club Žalgiris Vilnius. He signed for them on 20 January 2012. Elliot scored his first goal for Žalgiris Vilnius on his first A Lyga game in a 2–1 away win over FK Banga Gargždai. He then scored 4 goals in his second league match against FK Atlantas in a 7–0 demolition at home. On 20 May 2012, he won the Lithuanian Football Federation Cup with Žalgiris Vilnius defeating the winner of the tournament in the previous two seasons Ekranas 3–1 after a penalty shootout.

On 25 February 2013, it was announced by Scottish Second Division club Alloa Athletic that Elliot had signed a deal which would see him play the club until the end of the season. He was due to be included in Paul Hartley’s squad for the midweek trip to Arbroath the same week, subject to international clearance from the Lithuanian FA.

In April 2013, Eliott signed a pre-contract agreement to rejoin Livingston for the 2013–14 season, having previously spent time on loan with the club earlier in his career. On 4 June, fellow Scottish First Division side Raith Rovers announced he had signed for them on a one-year deal, prompting the West Lothian side to seek urgent clarification. Both clubs felt they were entitled to register the player however, on 6 June, Livingston decided not to pursue the situation further citing their disappointment in the player’s conduct. This left Raith Rovers free to register the player. After two years with Raith, Elliot was forced to retire in 2015 due to knee injuries.

Elliot was appointed manager of Junior side Edinburgh United in August 2015. He resigned 14 months later, with the club lying in sixth place in the Junior South Division and 16 points off promotion.

Elliot joined Mousehole in November 2017. The club play in the South West Peninsula League which is competed for by teams in Devon and Cornwall. Elliot’s initial roles were as player, in combination with being full-time academy coach and also assisting first-team manager Kevin Richards. Elliot then took on the role of manager on a temporary basis following Richards’ departure from the club in April 2018, with the position now since made permanent.

On 26 November 2018, Elliot become the new manager of Tynecastle.

Elliot was announced as the new manager of Tranent Juniors on 26 September 2020.