Morata has spent the last two seasons on loan at the Allianz Stadium but Juventus have not taken up the option to make his move a permanent one.
The 29-year-old's second spell with the Old Lady was not as successful as the first, which delivered two Serie A titles.
The Bianconeri have said of a departing in a message on their official website: “Alvaro Morata's adventure at Juventus has come to an end. The Spanish forward, on loan from Atletico Madrid over the last two seasons, leaves the Bianconeri for the second time and returns to the ranks of the Colchoneros.
“The bond between Alvaro and Juve was first born in 2014 and led to two league titles, two Italian Cups and an Italian Super Cup, as well as the journey to the final of the Champions League in Berlin in 2015. Such a solid relationship could not break when their roads first parted on June 21, 2016.
“So, four years later, Alvaro's second adventure with Juventus began when instead of a boy with his future to write, it was a man with plenty of experience on his shoulders that returned to Turin, ready to embrace a past that had never really been forgotten and to live other unforgettable moments.
“The first season of his second spell at Juve ended with twenty goals in all competitions to his name and two other winners' medals, the Italian Cup and the Italian Super Cup, to add to his hoard.
“Alvaro has given his all in every single match, in every training session, with the will to help the team at any time, also this year, when he scored another twelve goals, for a total of fifty-nine in the shirt of Juventus. His last goal was one to remember, a fine finish at the Allianz Stadium against Lazio on May 16 in his last appearance with the black and white shirt.
“Good luck in your future, Alvaro. And thanks for everything!”
Morata has one year left on his Atletico Madrid contract.
