With Kylian Mbappe now outshining his Brazilian teammate, there is a belief management can afford to move the attacker on.
"Maybe it's time to consider what to do with Vinicius... If he leaves this summer, it's not a big deal," Mijatovic said on El Larguero.
Vinicius Junior is said to have agreed a new three-year contract with Real, which would take him to 2030. However, he is yet to put pen to paper.
Mijatovic also said: "I don't know Vinicius personally, but I'm told he's an excellent guy and a great person. But you know how it is at Real Madrid. If you perform and do everything right, you stay, and if not, they sell you, let you go, or whatever...
"In the last 10 years at Real Madrid, which has had a lot of success, many players who have made a difference at this club have left."
"What's wrong with this kid?"
On the player's attitude and behaviour, Mijatovic also said: "Has Vinicius made more enemies than a footballer deserves, and not just outside of Real Madrid?
"Yes, I agree with you. I understand that fans of opposing teams see you as a player who makes a difference and hate you.
"But I also think that Vinicius has provoked this opinion against him, and a little outside of football. And not just among opposing fans, there are quite a few Real Madrid fans who think 'what's wrong with this kid?' And that needs to be said, it shouldn't be hidden. Why can't you say something like that?"