The France international officially became a free agent when his previous deal with the Bianconeri expired at the end of June, while he was competing for his country at Euro 2024.
Juventus were working to tie Rabiot down to fresh terms after the 29-year-old continued to prove his worth to the Old Lady last season, registering five goals and three assists in 31 Serie A appearances.
However, an accord ultimately could not be struck - allegedly due to Rabiot's yearly salary demand of €8.5m (£7.2m) and his desire to take over as club captain - and the two parties have mutually agreed to part ways.
Juventus confirmed the news in a statement on Thursday afternoon, where they paid tribute to Rabiot's "undeniable charisma", saying: "Adrien Rabiot and Juventus' paths have parted. The French midfielder's time in Turin has come to an end after five seasons.
"Beyond the trophies won together, though, he will be remembered as a player who always gave his all for the shirt, and one who carried himself with undeniable charisma.
"On the pitch, Adrien was a vital player to Juventus, particularly without the ball. His work rate could not be called into question, and he made huge improvements to his offensive game in recent seasons. Thanks for everything, 'Cavallo Pazzo', and good luck for the future!"
Rabiot leaves Juventus having registered 22 goals and 15 assists in 212 matches for the Old Lady since joining as a free agent from Paris Saint-Germain in 2019, winning one Serie A title, one Coppa Italia and one Supercoppa Italiana.
The 29-year-old has made the third-most appearances for Juventus out of all the club's previous French players, only behind David Trezeguet (320) and Michel Platini (224), and the Bianconeri have already added Douglas Luiz and Khephren Thuram to their midfield ranks
What next for Rabiot after Juventus exit?
Many will remember the farcical Manchester United saga of 2022, where Rabiot was seemingly on the verge of joining Erik ten Hag's Manchester United, only for a move to break down.
Rabiot's mother and agent Veronique Rabiot denied claims that the transfer fell through for financial reasons, and while links with the Red Devils have resurfaced, they are not thought to be serious contenders this time around.
However, a plethora of distinguished clubs have been tipped to make an approach, as a recent report claimed that all of Liverpool, Bayern Munich and Real Madrid are interested in a deal.
The Reds are thought to be pursuing a new defensive-minded midfielder this summer, while Bayern could lose the long-serving Joshua Kimmich either this summer or in 2025.
French outlet Foot Mercato also name-checks AC Milan and Barcelona as clubs who have thrown their hat into the ring, although Rabiot's salary demands could make negotiations problematic.