Flamengo were hoping to keep the player on loan for the rest of the year but Madrid have turned their proposal down as they plan to have him join them for pre-season training ahead of next season.
The South American side are now set to hold a farewell press conference for Vinicius, who has been with them since the age of 10, on July 2. He will fly to Madrid on July 12, his birthday, three days before they begin their pre-season tour of the United States.
Real and Flamengo reached a deal for the precocious attacker last May, with the Spanish side parting with £39.6m. They announced that the player would be remaining in Brazil until 2019 unless the two sides agree otherwise, but it would seem that the Champions League holders want to at least have a good look at him during the pre-season, hence their decision to have him move next month.
Flamengo, though, are hoping that the striker could return if Julen Lopetegui doesn't include him in their first-team squad for the upcoming season, but there's also the possibility of the player joining their B side.
The new manager will have about a month to fully assess the Brazilian and decide whether or not he's worth keeping in the side, something which could also depend on their transfer activity over the summer.
If Lopetegui reckons he won't be able to give Vinicius lots of playing time, he could allow him to return to the Brazilian side to continue his development if he deems it best.