Rumours had intensified in recent days that Real Madrid were close to sealing a deal for the defender, however, Juventus have moved to rubbish those rumours.
Zinedine Zidane's Real are believed to be considering Bonucci as a replacement for Pepe.
Italian newspaper 'Tuttosport' reports that Juventus have not received any bids for the 30-year-old. Though it is believed that Real are currently pondering how much it would take to convince the 'old lady' to part with Bonucci.
The story of Real's interest came from Spanish journalist Josep Pedrerol, who stated that he would be the perfect replacement for Pepe, who has decided to quit the Bernabeu this summer.
Bonucci is widely considered to be one of the best central defenders in world football and his arrival would reinforce Nacho and Varane's roles as back-up players as their first team chances would be limited even further.
Although Juventus have not yet received any bids for the player, it is rumoured that they would demand €60million for any sale.
This money would allow the Italian champions to push through deals for some of their top targets this summer, including, Douglas Costa and Federico Bernadeschi.