The Frenchman resigned from his post as Real Madrid boss after last season following the club's third successive Champions League triumph.
Zidane would return to Turin 17 years after he left the club as a player in a then world record €77.5m move to Real Madrid.
Since retiring Zidane has worked upstairs at the Bernabeu before replacing Rafa Benitez in 2016 to oversee a spell of dominance in European football.
Should Zidane join Juventus, it would see him back working in conjunction with Ronaldo again with the pair aiming for a fourth successive European crown.
Zidane is revered by the Old Lady and their followers, having picked up the Ballon d'Or in 1998 during a five-year spell.