Kalinić began his career with Hajduk Split in his native Croatia before moving to English club Blackburn Rovers for £6 million in 2009. After scoring rarely in two Premier League seasons, he left for Ukrainian side Dnipro Dnipropetrovsk, helping them reach the 2015 UEFA Europa League Final. He then played in Serie A for Fiorentina and A.C. Milan, before signing for Spanish club Atletico Madrid ahead of the 2018–19 season, winning the 2018 UEFA Super Cup.