"Juventus Football Club can today confirm that terms have been agreed with Southampton Football Club on a free loan deal for Pablo Daniel Osvaldo," the club said in a statement on their website.
"The agreement also includes the option, to be exercised before 31 May 2014, for the purchase of the player's full registration rights at price of 19 million euro, to be paid over the course of three years."
Osvaldo, who scored three Premier League goals since moving to Southampton from AS Roma last year, is keen to earn a place in Italy's World Cup.
The 28-year-old was suspended for two weeks by the Premier League club following a training ground altercation with team mate Jose Fonte earlier this month.
Juventus are six points clear at the top of Serie A and host bitter rivals Inter Milan on Sunday.
(Reporting by Terry Daley, editing by Ed Osmond) nL3N0L5539
