The Bianconeri has recaptured the diminutive attacker after it reached an agreement with the Gialloblu to purchase the remaining half of the player's rights.
The Stadio Ennio Tardini outfit had revealed the completion of the deal on Tuesday afternoon, but retracted their previous announcement just hours later.
Giovinco, who was co-owned by both clubs, has signed a three-year contract which will keep him at Juve until 2015 after the Bianconeri agreed to pay 11 million euros for the remaining 50 percent of the 25-year-old's economic rights.
He follows in the footsteps of Emanuele Giaccherini, who signed a permanent deal with the Serie A champions earlier in the week for 4.25 million euros.
Giovinco, who has made two substitute appearances for the Azzurri at Euro 2012, broke into Juve's first team in 2007 but was quickly loaned out to Empoli to get more games under his belt.
He returned to the Bianconeri in the summer of 2008 but failed to hold down a regular place at the club before signing for Parma in 2010, scoring 23 goals in 70 appearances for the club.