Exor, the holding company which controls Juve, said in a statement to the Italian stock exchange that club president Andrea Agnelli wanted to increase the number of board members to 11 from seven and include personal friend Nedved.
The 38-year-old, who retired at the end of the 2008/09 season and has kept a low profile since, was a huge success in his nine years at Juve and had been linked with the role of youth team coach. Some fans even wanted him as manager.
He won the Ballon d'Or in 2003 and was hailed by supporters for sticking with the Turin club when they were demoted and had two scudettos stripped in a match-fixing scandal in 2006.
Many Juve fans pinpoint Nedved's retirement as a reason for their dreadful season last term when they finished seventh in Serie A.
New Juve sporting director Beppe Marotta, who arrived from Sampdoria along with coach Luigi Del Neri, has also been nominated for the board in a bid to bring more football people into the running of the club. A new stadium is set to be completed next year.
Juve shareholders must approve the new names at a meeting on October 27.
