The 25-year-old Giovinco signed a three-year deal with the Serie A champions, tying him to the club until June 30, 2015.
Giovinco progressed through the ranks at Juventus and made his first-team debut in May 2007 before being shipped on loan to Empoli for the following season.
The attacker was loaned to Parma in 2010 and the deal was made permanent the following season, with Juventus retaining half the player's rights.
Giovinco enjoyed another impressive season for Parma, with his 15 goals and numerous assists helping his team to an eighth finish in Serie A.
The transfer fee was payable by Juventus over the next three years.
