Soon afterwards, the American side came close to taking the lead when Aaron Long hit the crossbar with a header, before Juventus went back up the other end with Favilli glancing wide from a promising position.
However, the young forward had his goal midway through the first half when he was again found inside the penalty area and given the chance to head the ball just inside the post.
MLS All-Star were level within five minutes through Martinez, who forced the ball home from close range after goalkeeper Wojciech Szczesny had initially done well to keep a shot out.
Miguel Almiron has allegedly attracted interest from the Premier League this summer, and the playmaker showed why on 39 minutes when his powerful run and pass to Sebastian Giovinco led to Ezequiel Barco being set up inside of the penalty area, only for Szczesny to make a stunning save from his volley.
MLS All-Star had been the better side, and Alberth Elis was prevented from putting his team into the lead when his 10-yard strike was kept out by substitute stopper Mattia Perin.
The flow of the game in the second half had been disrupted by the number of changes from either team, but Juventus youngster Leandro Fernandes almost netted the third goal of the contest with a shot from distance.
Yoshimar Yotun blazed a free kick over for MLS All-Star in the final minute, and it resulted in the game at the Mercedes-Benz Stadium progressing to penalties.
Juventus netted with each of their efforts from 12 yards, with the shootout being decided by Wright-Phillips striking the post with the fourth attempt for MLS All-Star.
MLS All-Star (4-2-3-1): Guzan (Steffen 46'); Murillo (Zusi 46'), Long (Parkhurst 62'), Ciman (Hedges 46'), Calvo (Davies 33', Yotun 63'); Adams (Dos Santos 32', Zahibo 62'), Ring (Sanchez 46'); Vela (Elis 46'), Almiron (Valeri 46'), Piatti (Barco 35', Quintero 62'); Martinez (Giovinco 32', Wright-Phillips 62')
Juventus (4-3-3): Szczesny (Perin 46'); Cancelo (Di Pardo 74'), Rugani, Barzagli (Benatia 46'), Alex Sandro (De Sciglio 46'); Khedira (Fagioli 46'), Pjanic (Fernandes 46'), Can (Kastanos 46'); Bernardeschi (Clemenza 46'), Pereira (Beruatto 65'), Favilli (Beltrame 46')