Sarri guided Juventus to a ninth straight Serie A title but they were knocked out of the Champions League by Lyon at the last-16 stage.
The 61-year-old manager who succeeded Massimiliano Allegri in June 2019, was appointed on a three-year contract in Juventus, after one year at Premier League club, Chelsea.
Juventus lost three of their last four league matches to finish only one point clear of Inter Milan in the end. They were also beaten by Napoli in the Coppa Italia final after football in the country restarted following the coronavirus shutdown.
Juventus are two-time European Cup/Champions League winners but have not lifted the trophy since 1996.
A club statement thanked Sarri for “having written a new page in Juventus’ history”, adding that it was “the culmination of a personal journey that led him to climb all the divisions of Italian football”.
KanyiDaily had reported that after Maurizio Sarri left Chelsea in 2019, the premier league club appointed one of it’s legends, Frank Lampard, to replace him as their new manager at Stamford Bridge.