Carrillo failed to score in 10 games for The Saints, quickly falling out of favour once Mark Hughes had replaced Mauricio Pellegrino at the helm.
And even a reunion with Pellegrino at La Liga outfit Leganes, who he joined on loan last summer, has failed to spark a prolific run of form. Carrillo has scored just six times in 32 games at the Butarque.
So Southampton will surely be looking to sell the 27-year-old this summer with Olympiakos seemingly ready to offer him a fresh start.
Olympiakos are by far the most successful side in Greek football but they have missed out on the Super League title in each of the last two seasons and are expected to attempt a number of marquee signings to claw their way back to the top.
Southampton will probably have to accept a big loss on their £19 million investment however.
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