Officials from the two clubs met in London on Tuesday to hammer out the deal and Tevez will now travel to Italy on Wednesday for a medical and to discuss personal terms with the Serie A champions, who have reportedly offered him a three-year contract.
Juventus are set to pay a flat fee of around £10m for the 29-year-old Argentina international with some additional bonus payments also agreed.
City will now search for a replacement striker for Tevez - as they have only Sergio Aguero and Edin Dzeko on their books - although Napoli's Edinson Cavani is reportedly not one of their targets.
Tevez joined City from their local rivals Manchester United on a five-year contract on July 14, 2009.
He has since made 148 appearances for the club, scoring 73 goals, although he was also fined and suspended by City following the infamous Champions League match at Bayern Munich in 2011.
Tevez began his career at Boca Juniors in Argentina and has also played for Corinthians in Brazil and West Ham.
As long as there are no unforeseen hitches, the transfer will bring to an end one of the most eventful Barclays Premier League careers.
Signed by West Ham in 2006 despite being the subject of third party ownership, which is against Premier League rules, Tevez scored the goal that kept them up, only for the Londoners to be hit with a massive £5.5million fine for infringing regulations.
Tevez quickly moved on to Manchester United, where he won two Premier League titles and the Champions League.
However, a deteriorating relationship with Sir Alex Ferguson meant Tevez had no hesitation in accepting a massive offer from City in 2009.
The departure of manager Mark Hughes within six months of that deal being done was to have significant repercussions though as Tevez failed to connect with the Welshman's replacement Roberto Mancini, whilst the striker's advisor Kia Joorabchian had an equally poor relationship with former chief executive Garry Cook.
Tevez was named skipper in 2010 and led the Blues to an FA Cup final win over Stoke the following year, but simmering discontent erupted in Munich when Tevez opted not to warm-up the defeat to Bayern.
Mancini reacted furiously, stating after the match that Tevez would never play for the club again.
Tevez was subsequently put on 'gardening leave' but with the anticipated January move not materialising, he returned to the club in February 2012.
He earned his place back in Mancini's side and was a factor in the Blues ending their 44-year wait for the league championship.
Without ever patching up his relationship with Mancini completely, Tevez still made 39 appearances in all competitions, finishing joint top scorer at City with 17 goals.
However, his late winner against Wigan in April now looks like being his last for the club.