The Chelsea striker has struggled to compete for a first-team spot since his move to Stamford Bridge.
Batshuayi was second choice behind controversial Spanish forward Diego Costa throughout the 2016-17 season.
The Belgium international scored the vital goal that sealed Chelsea’s title triumph under Antonio Conte last term.
Batshuayi netted a late winner in their 1-0 win at West Brom to seal the win and a second title in three seasons.
However, the Chelsea striker hasn’t been able to kick on this term despite Costa’s departure to Atletico Madrid.
Former Chelsea midfielder Wise believes it is time to call it quits with Belgian forward Batshuayi.
“He has had his opportunity,” Wise told Sky Sports.
“He hasn’t come up with the goods. His movement isn’t great. He is not the one.”
Chelsea are in third place in the Premier League table but 15 points adrift of the current leaders.
The west London side signed England international Ross Barkley in a £15m deal from Everton in the summer transfer window.
Chelsea will take on Premier League rivals Newcastle United in the FA Cup fourth round at Stamford Bridge on Sunday afternoon.
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