Allegri has guided Juventus to five straight Italian league titles and four Coppa Italia crowns since arriving at the Allianz Stadium in 2014.
“Massimiliano Allegri will not be on the Juventus bench for the 2019/2020 season,” the club said in a statement.
“The coach and the president, Andrea Agnelli, will meet the media together at a press conference on Saturday, at 2pm in the press conference hall of Allianz Stadium.”
In spite of winning the Serie A, this season has been widely regarded as a disappointment for Juventus, partly because expectations rose greatly with the club’s record signing of Cristiano Ronaldo.
The Italian giants were outplayed in their UEFA Champions League quarter-final defeat by Ajax Amsterdam, leaving them without a major European trophy since 1996.