The Peru international claims he turned down advances from the Bavarian giants and the Bianconeri before he signed a contract extension tying him to the Veltins Arena until 2016
The Peruvian recently signed a four-year deal with the Royal Blues that will keep him at the club until 2016.
The 27-year-old, who has made 109 league appearances for Schalke, claimed there were extensive talks with Bayern and Juve prior to signing the extension.
"We spoke often with Bayern. Such interest made me very happy, of course," he told Sport Bild. "I have my dreams and I will achieve them at Schalke.
Regarding interest from the new Serie A champions, Farfan added: "Juventus are a great club, but it's a different football that they play there.
"I would have had to reinvent myself had I gone there. Schalke are more attractive overall than Juventus."
Farfan missed large parts of the current season due to injury, only making 23 Bundesliga appearances.