The 37-year-old has high expectations for the flamboyant attacker and thinks he can guide them to silverware in Italy and Europe this term
The Argentina-born Italy international joined Juve on a six-month loan deal on deadline day of the January transfer window.
Camoranesi feels his compatriot offers the Turin giants something they did not have before.
"It's nice to see another Italian-Argentine at Juventus. I hope that he can become part of Juventus' history," Camoranesi told Tuttosport.
"He is a talented and creative attacker, different to their other attackers. I think that's the main reason why Juventus brought him in.
"Osvaldo has had his highs and lows, but I think he can make that final step at Juventus. Juventus are an institute and help players grow. It's the right place to make another step forward.
"With the arrival of Osvaldo, Juventus have what it takes to win two trophies.
"They pretty much have the Scudetto in the bag and they must emerge victorious in the Europa League, too. They have the will to not only win the Scudetto, but to be successful in Europe as well."
Juventus currently hold a nine-point lead over Roma in Serie A, while they meet Trabzonspor in the Europa League round of 32.