Felix spent the 2023-24 campaign on loan at Camp Nou, scoring 10 times and registering six assists in 44 appearances for Barcelona in all competitions.
The 24-year-old's loan deal has now officially expired, meaning that, as it stands, he will be back with Atletico for the start of pre-season training towards the end of the month.
Felix has a contract at Wanda Metropolitano until June 2029, but he is unlikely to represent the club again due to his strained relationship with Atletico head coach Diego Simeone.
According to Record, Barcelona have not ruled out signing Felix this summer, but the club do not view him as a priority acquisition, and much will depend on their financial situation.
Benfica could re-sign Felix this summer
The report claims that the Portugal international must now decide whether to wait until the final moment for Barcelona, potentially the latter stages of August, or return to former club Benfica.
The Portuguese outfit have allegedly made an offer of €20m (£16.9m) to buy 50% of his rights, but Atletico are asking for €25m (£21.2m) in order for the deal to become a serious possibility.
Atletico are said to be determined to sell Felix this summer, so the capital outfit are currently giving priority to Benfica, but Felix could wait for Barcelona, as was the case last year.
The forward represented Benfica between 2015 and 2019, making the step into the first team in 2018, and he managed 20 goals and 11 assists in 43 appearances for the club.
Felix has struggled to fulfil his early potential
At the time, he was regarded as one of the best young talents in world football, with Atletico spending in the region of €126m (£106.7m) on his signature.
However, Felix has found it difficult to fulfil his early promise, scoring just 34 times in 131 matches for Atletico, in addition to registering 18 assists.
The forward is currently with the Portugal squad at Euro 2024, with Roberto Martinez's side preparing to tackle France in the quarter-finals of the competition on Friday.
After the tournament, Felix will have a rest period, and he will then be expected back at Atletico for pre-season training if a summer transfer cannot be agreed.
Barcelona are currently being heavily linked with Spain duo Dani Olmo and Nico Williams, while Raphinha could be the club's most high-profile forward departure this summer.