The Serie A side are looking to the future and the Chilean may not be a part of their plans.
Following Saturday’s Champions League final loss to Barcelona, the club are now taking stock and looking to the future, with several big names expected to leave to be replaced by fresh faces.
Juve have already signed Paulo Dybala from Palermo, and are now keen to shore up the future of French star Paul Pogba. It is believed the youngster is keen to stay at the club for another season at least, perhaps to make a move to Barcelona once their transfer embargo is over.
Any move for the Chilean would be a costly one though, with Juventus said to be holding out for €40 million - around £29 million.
They would also face competition from both Real Madrid and Manchester United for his signature, according to the report.
What may work in Arsenal's favour is that fellow countryman Alexis Sanchez is already at the Emirates, while the duo also share the same agent, meaning they could influence a move that way should money not be a factor.