The Australian capped winger is on the brink of a lucrative life-changing move to Saudi Arabia and Easter Road boss Shaun Maloney has warned he will need to be replaced in the first-team squad.
Mitchell, now at Blackpool, has emerged as a potential target and has history in Edinburgh.
Trained at Manchester United as a youth, he moved to Hearts in 2018 and spent a full year in the capital on loan, playing 34 games and scoring twice.
Hibs are believed to be prepared to offer the versatile wide-man a two-and-a-half year contract to lure him away from the Seasiders to Leith.
Maloney would not be drawn on the speculation following his side’s 1-0 Scottish Cup win over Cove Rangers, after extra-time.
“He's still a Blackpool player so I wouldn't want to speak about that just yet,” he said of the 25-year-old.