The 23-year-old joined Chelsea in January on a six-month loan from Atletico, shortly after extending his contract with the LaLiga club to 2027.
Felix has impressed during his spell at Stamford Bridge with four Premier League goals in 16 appearances but Cerezo said he will not continue at Chelsea.
When asked about the player's future, Cerezo told reporters on Tuesday: "The truth is that I can't tell you the plan with Joao.
"The news that we received yesterday is that the new manager doesn't count on him at Chelsea. We don't have anything planned, Joao is an Atletico player for now."
The Portugal international previously hinted that his future depended on the club qualifying for the Champions League next season but Chelsea finished in 12th place and miss out on European football.
Pochettino will be tasked to getting Chelsea back into Europe after signing a two-year deal with the club on Monday.