Olof Mellberg has agreed a three-year deal with Olympiakos and is set to officially join on Monday, according to reports in Greece.
It is understood that Juventus have accepted an offer of around €2.7million (£2.3m) for the Swedish defender.
Recent speculation had suggested that Mellberg could return to former club Aston Villa after just one season with Juventus.
But Olympiakos now appear to have won the chase for his signature and a medical is expected to take place at the start of next week.
Olympiakos have also struck a deal with Blackburn for forward Matt Derbyshire and reports claim they could next try to sign Liverpool's Sebastian Leto on a permanent basis.