The Portuguese forward joined in January on loan from the LaLiga side for a reported £9.69 million (€11m) fee, scoring four times in 20 appearances in all competitions.
But Atletico president Enrique Cerezo has now confirmed Mauricio Pochettino, who was announced as the new Chelsea manager on Monday after signing a two-year contract, has passed on the opportunity to retain the player for next season.
“We have been informed that Pochettino does not count on Joao Felix for Chelsea,” Cerezo said.
“He will return here, we’ll see… we’ve nothing planned.”
The 23-year-old appeared keen to extend his stay in London, admitting recently to enjoying the experience of playing in England with the Blues.
“I don’t know yet my future but these four or five months, I’ve loved it,” Felix said.
“It’s a top club, everyone in the club is very good to me, my teammates are unbelievable and I really like to be here.”
Felix’s future is now unclear after falling out of favour under Diego Simeone this season, though he has four years remaining on his contract at the Wanda Metropolitano.
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