In an interview with Kyodo News, Mr Abhisit warned that the political turmoil would continue if Ms Yingluck holds on to power without showing any concrete plans for reform.
"The country will get stuck in this stalemate and the country is losing time, losing opportunity. There are more risks of violence. Things are getting out of control," Mr Abhisit said.
Mr Abhisit, who was in office from 2008 to 2011 and is now leader of the opposition Democrat Party, said Ms Yingluck should step back and let the people of Thailand, including anti-government protesters, undertake reform.
By retreating, Ms Yingluck can help the country move forward and help the government ease the current political temperature, Mr Abhisit said.
"Because the premier is setting preconditions -- no, she has to complete (the general) election; no, she has to be a caretaker -- you cannot get anywhere," Mr Abhisit said.
To break the political impasse, Ms Yingluck called a general election more than a year early. But the election, which was held Feb 2, was boycotted by the Democrat Party.
Results of the election have not been announced.
On the connection between the Democrat Party and anti-government protesters who call themselves the People's Democratic Reform Committee (PDRC), Mr Abhisit said the Democrat Party and the PDRC share the same objectives on the country's reform but that they have differences in terms of the path to reform.
A large number of government protesters were Democrat supporters, including the top protest leader, former deputy prime minister Suthep Thaugsuban, who was a Democrat lawmaker.
"There is no denial that lots of people who support PDRC would naturally be Democrat supporters," Mr Abhisit said.
"We share the same objective obviously that we would like to see reform," he added.