Mihalić participated in the marathon at the 1960 Summer Olympics in Rome, finishing 12th, in a time of 2:21:52.6. His third and final Cinque Mulini win in 1961, shortly before his 41st birthday, was also his last major international result. Mihalić retired from sport in 1966 by winning his last race, the Kadinjača mini-marathon in Užice.