Miguel Alejandro Vargas Soto (born 15 May 1969) is a Chilean former footballer who played as a midfielder for clubs in Chile and Greece.
A product of Colo-Colo youth system, Vargas took part of the first team thanks to the coach Arturo Salah and made five appearances in 1988 in the league, as well as in the Copa Libertadores. He also was with them in the 1995 season. In both the 1987 and 1989 seasons, he played on loan at Rangers de Talca.
In the Chilean Primera División, he also played for Deportes Antofagasta (1992), Coquimbo Unido (1994), Unión Española (1996) and Palestino.
In the Chilean Segunda División, he played for Audax Italiano (1991), Magallanes (1993) and Santiago Morning (1998).
Abroad, he played for OFI in the Alpha Ethniki from 1999 to 2000, becoming the third Chilean to play for the club after Alejandro Hisis and Jaime Vera.
He began his career as coach at the Colo-Colo academies and works for the Colo-Colo youth system since 2019.