The ex-Blancos midfielder believes the coach had outstayed his welcome at the Liga club but insists his compatriot was not necessarily wrong in his decisions.
Mourinho will depart the Blancos in June after three years in charge, having joined from Inter in the summer of 2010 and taken the club to three Champions League semifinals, one league triumph and one Copa del Rey trophy.
His fall-out with a number of high-profile Madrid players - most notably captain Iker Casillas - has contributed to his exit from the Bernabeu dugout, and Figo believes it is the right time for his compatriot to move on as he nears a return to the Premier League with Chelsea.
"It was to be expected," Figo told reporters at a charity event. "I believe it is right for them to bid farewell [to Mourinho].
"Some people will not like it, others will think it's the right thing, but the reality in life is you cannot please all the people. The fans should try to be fair and wait to see what happens next."
Mourinho's benching of Casillas in favor of January signing Diego Lopez has resulted in a lengthy dressing-room dispute, but Figo thinks the facts have been exaggerated and that the coach had legitimate reasons for his actions.
"They are my friends," Figo said of Mourinho and the Spain goalkeeper. "They are of the age to be able to work things out.
"Mourinho's decisions were professionally and technically sound. You might not like it but [as a player] you have to accept and take it in the best way possible for the good of the club."
Madrid faces Osasuna on Sunday in the final game of the Primera Division season, having already secured second place behind champion Barcelona.