"Massimiliano Allegri will not be on the Juventus bench for the 2019-2020 season, "the statement on Juventus' website read".
In addition, Allegri has also guided Juve to two Champions League finals in 2015 and 2017, but lost out on both occasions.
Juventus won Serie A four weeks ago, but the season has been considered a failure after they were eliminated by Ajax in the Champions League quarterfinals. Conte was the Juventus manager from 2011 until Allegri replaced him in 2014.
Earlier, Legit.ng reported that Maximiliano Allegri has reportedly agreed to part ways with Juventus at the end of this season after five years in charge of the club.
Allegri, who spent much of his playing career as a midfielder in Serie B, said immediately after that defeat that he wanted to stay at the club.
Pep Guardiola has ruled out a move to Serie A and as the Spaniard stands on the cusp of an historic domestic treble he has little need to leave Manchester City, where he enjoys the full backing of the club.
They have two league games remaining this season, starting with Atalanta at home on Sunday.
"How many times do I have to say?"
"I'm not going to move".
A success with Juve during his last period at the club between 2011 and 2014, Conte has been out of work since leaving Chelsea previous year. I am not going anywhere.
"That is how I feel today, but football changes a lot".
There has been a lot of speculation about the future of the Manchester City boss of late, despite his current contract running up until 2021.