The Turin side have registered the player for the forthcoming Champions League campaign and it is thought coach Marcello Lippi wants to keep the 19-year-old former Danubio striker at Stadio Delle Alpi and loan out Uruguayan compatriot Marcelo Zalayeta.
Empoli are thought to be preparing a bid around £1.3 million to take Olivera for the rest of the season with the option of a £4.5 million permanent switch next summer
Juventus have a glittering array of senior stars at the club, but with the added pressures of a Champions League campaign, the need for an extended squad is of paramount importance.