"Juventus announce that an agreement has been reached with Liverpool for the loan of Alberto Aquilani with the option to buy the player at the end of the season for €16 million ($20.2m)," Juve said in a statement.

Aquilani joined Liverpool from Roma last year for £20million, but has hardly lived up to the expectations as he only scored once in nine starts for the Reds.

A week ago, Liverpool signed Denmark's Christian Poulsen, who is also a central midfielder, from Juventus.