An announcement on the Juventus official website stated that Buffon has completed the move, as earlier indicated on planetfootball.
Click here to read our earlier story about the imminent arrival of Buffon.
The outstanding keeper has been one of the brightest sparks of Italian football since gaining his Serie A debut at the tender age of 17.
A call-up to the national side brought a first cap at the age of twenty, and the sometimes controversial figure has consistently proved his brilliance with breathtaking shot-stopping abiity and a commanding and quick presence in the box.
Buffon's deal, should it go through will surpass the current record for a goalkeeper which is currently the £10.5 million Internazionale paid Juventus for Angelo Peruzzi in 1999, with the next biggest cash only deal for Manchester United's Fabien Barthez when he moved from Monaco last summer.
