The Italy great's one-year contract at current club Paris Saint-Germain expires at the end of this season.
The 41-year-old has previously said he intends to sign a contract extension with the French giants, but SportMediaset report he could now decide against it in favour of retirement and a return to Turin.
They say his agent Silvano Martina is going to Paris for discussions between the player and PSG next week.
If he does rejoin Juventus in a management role, it will be alongside his former teammate Pavel Nedved, who is the club's vice-president.
Buffon spent 17 seasons as Juve's 'keeper, winning nine Serie A titles, the 2006 FIFA World Cup, and a host of individual honours in that period.
Of his season at PSG, he told the club's website: “I spent nine months in a wonderful city, was welcomed warmly and shown a lot of affection.
"I am very happy to have made the choice to come to Paris.”
“I wanted to experience a new football environment and a new city in my life too and I must admit, I have fulfilled those needs.
"I wanted to get out of my comfort zone and learn new things. I learned French and I know in future all of this experience will help me.”
