The striker, barely seen in a Hearts shirt during his injury-ridden two seasons, has earned in excess of £1 million from just eight appearances.
The 24-year-old's contract expires at the end of the season and, despite Hearts' option of retaining him on a new four-year deal, Pinilla wishes to go home.
Pinilla was sent back to Chile on loan in February 2007, to his original club, Universidad de Chile, returning before the start of this season. He damaged knee ligaments in training in January but remains unsettled at being so far from his young daughter, Agustina, who lives in Santiago with Pinilla's former partner, Gisella Gallardo.
"The wound is better and I feel well but now I feel that I need to return to Chile," he said. "It does me no good to be far from my daughter." The player claims to have held discussions about returning to South America with Everton Vina del Mar, who are second in the Chilean Prime-ra Division. "I have several opportunities in my country," he said.