"Massimiliano Allegri will not be on the Juventus bench for the 2019-2020 season," the club said in a statement, announcing a news conference for Saturday.
His departure could open the way for the return of Antonio Conte, who left Juventus in 2014 to take charge of the Italian national side.
The 51-year-old has won Serie A in each of his five seasons with the Turin club, helping them become the first side to win the Italian league eight times in a row.
They also won the Coppa Italia in his first four seasons in charge and were Champions League runners-up in 2015 and 2017.
However, this season was still seen as a disappointment as the signing of five-times World Player of the Year Cristiano Ronaldo failed to prevent Juventus being knocked out of the Champions League in the quarter-finals by Ajax Amsterdam.
Allegri, who spent much of his playing career as a midfielder in Serie B, said immediately after that defeat that he wanted to stay at the club.
He had arrived at Juventus six months after being sacked by AC Milan, whom he had led to the Serie A title at the first attempt in 2011 after earning coaching plaudits at Cagliari.
He was initially greeted with hostility at Juventus; supporters hurled eggs at his car as he arrived for his first training session. But he quickly won the fans over as the club continued their dominance of Serie A.
His final game in charge will be at Sampdoria on May 26.
(Reporting by Brian Homewood and Hardik Vyas in Bengaluru; Editing by Pritha Sarkar and Kevin Liffey)
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