Jose Mourinho had been looking at the possibility of bringing the 36-year-old back to Chelsea this summer after the Ivorian forward left Galatasaray last month.
It was believed that Drogba would be offered a return to the Blues with an option to fill a coaching role at the club if he came back to the Premier League.
However according to Tuttosport, Juventus have won the race for the powerful forward who was also targeted by several Major League Soccer clubs.
The Old Lady have offered him a two-year-contract in what will likely be Drogba's final move in a successful career, and he is thought to keen on the challenge of Italian football after two season's in Turkey.
The former Marseille man left Chelsea in 2012 after winning the Champions League with the Blues and scored 157 goals in 341 appearances during his time in West London.
Juventus won Serie A last season and manager Antonio Conte is now looking to make a strong charge in the Champions League.
The addition of Drogba will add vital experience to the side and he could form a lethal partnership alongside Carlos Tevez or Fernando Llorente.
A move to Chelsea in a coaching role could still happen, but it is likely to be after his playing career ends with a stint in Italy now seemingly confirmed.
Drogba is at the World Cup with Ivory Coast and will make any move after the tournament.