Tiago Mendes is expected to move to Atletico Madrid after being released by Juventus.
The former Chelsea midfielder spent last term on-loan with Atletico.
"Juventus Football Club S.p.A. announce the termination by mutual consent of Tiago Cardoso Mendes' contract," read a statement.
"This operation has a negative effect on the 2010-11 books of 2.8m due to the devaluation of the player."