The Portuguese spent the previous three months with the Greek champions, making four appearances, two of which came in the Champions League.
Now, that loan spell has been mutually ended and the 21-year-old year old will link up with Bruno Jordao and Leonardo Campana at Famalicao, who are currently sat 14th in Portuguese Primeira Liga table.
As a Wolves player, Vinagre has played 70 times and scored three goals, and will target more minutes in his home nation of Portugal between now and May.