The Serie A side previously tried to sign the 30-year-old when he moved to the Santiago Bernabeu from Liverpool in 2009.
"I think a move to Juventus for Xabi is an impossible thing," Inaki Ibanez told calciomercato.com.
"It's not a money problem, now the player has a great time at Real and I see no possibility that he moves, neither to go to Turin nor to another club.
"He still has two years and a half contract, then we will see."
Madrid currently lead rivals Barcelona by ten points in the La Liga table.