"Lucio's adventure in the black and white stripes has come to an end," read a statement on the club's website.
"Juventus and the Brazilian defender have reached an agreement for the player's contract to be terminated by mutual consent."
Lucio made just four appearances for Juventus this term after joining on a free transfer from Inter Milan in the close season.
The 34-year-old centre-back won the 2002 World Cup with Brazil and also the 2010 Champions League with Inter.
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