Aquilani will stay at the Italian side on loan for the rest of the season.
The midfielder joined Liverpool from Roma in a big-money deal last summer.
“Liverpool and Juventus have agreed a one-year loan deal for Alberto Aquilani,” read a statement released on Liverpool’s official website.
“The midfielder will undergo a medical in Italy on Monday.”
Aquilani failed to make an impact at Anfield and struggled with injuries during his time in England.