Both coach and club had wanted a proposal in place by May 20 in order to pursue new opportunities if an agreement could not be reached.
Il Quotidiano Sportivo is reporting that the tactician would receive a contract extension through until 2018 and a pay increase to €4.5 million annually.
Conte’s future with the club has been in doubt, as Juventus management has stated they will work on a new contract with the coach after the season concludes.
Conte has made statements in the press indicating he believes his club needs to invest in new players in order for The Old Lady to advance in Europe, and the failute to invest could lead to his exit.
Juventus have secured their third straight Scudetto, but failed to advance out of the group stage of this year’s Champions League.