The Argentinian forward played on loan at Hellas from FC Porto this season before the Italian club purchased the 20-year-old's sporting rights for 15million euros last month.
Iturbe has been strongly linked with a move to La Liga this summer, with Real Madrid and Barcelona among the clubs reportedly keen to acquire his services.
"We all know that Iturbe is a special player," Hellas sporting director Sean Sogliano said on the club's official website.
"We cannot hide the fact he is at the centre of important negotiations.
"He is aware of what the situation is, there are possibilities that he will join a big club.
"Even though all the focus is on him, he is calm and aware that he could have the opportunity of his life.
"He is well aware Verona made an unimaginable effort to buy him. That is why today he trusts us.
"He knows that if an offer that we consider fair arrives then he will leave.
"However, as our president said, if that offer doesn't arrive then he will remain with us next season and we will all be delighted.
"Having said that, it is more likely to see him leave than see him wear the Verona colours next season.
"It's right to state this rather than to deceive our fans and myself."
Iturbe scored eight goals in 33 league appearances to help promoted Hellas finish 10th in Serie A this season.
"It has been wonderful to see him grow as a player," Sogliano said. "Iturbe is very happy with the season he's had.
"We have given him confidence and he has grown so much in every respect. He is happy here.
"He has shown great things and he is destined to have a great career if he maintains the mentality he's had this season."