The Greek club signed the Belgian on loan during the January transfer window after he was told he could leave Goodison Park.
Olympiakos have reportedly since been told by Everton they can land the 30-year-old permanently this summer for around £5m.
But, according to Belgian news outlet Voetbal Belgie, the Greek side have no desire to bring in Mirallas at the end of the season.
Instead, Olympiakos have told the winger he is free to go back to Goodison Park in the summer and fight for his place there.
However, Mirallas is still being linked with a move away after the World Cup and clubs in Belgium are reportedly keen on him.