The 29-year-old Uruguayan, who joined the Italian club from Sevilla in 2012, made just six league appearances last season, missing the final three months of the campaign with injury after being suspended briefly in September for his involvement in a drink-driving incident.
Caceres also spent a season on loan at Juve from Barcelona in 2009.
"All associated with the club would like to thank Martin for his efforts in a history-making five-season spell and wish him all the best for the future, whatever it may hold," the Serie A champions said in a statement on the club's website (www.juventus.com).
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(Reporting by Silvia Recchimuzzi in Gdynia,; Editing by Neville Dalton)
