An arrangement worth 112m euros (£99.2m) has been come to between the two clubs that has seen the Portuguese sign a four-year manage the Italian champions.
Ronaldo, 33, won four Champions League titles in his nine years at Real.
"The time has come to open another phase in my life, that is the reason I requested that the club acknowledge exchanging me," he said..
The main two world record exchange charges have been paid out by Paris St-Germain - the £200m they paid Barcelona for Brazil forward Neymar last August, and the expense of around £166m for France forward Kylian Mbappe in July after a fruitful season on credit with PSG.
Barcelona additionally paid Liverpool £142m for Brazil midfielder Philippe Coutinho in January. For Juventus, the charge they will pay for Ronaldo is set to obscure the £75.3m they paid for forward Gonzalo Higuain from Napoli in July 2016.
Juventus are set to play Real Madrid in a pre-season International Champions Cup competition in the United States, with the match occurring at FedEx Field in Washington on Saturday, 4 August.
'Genuine Madrid have vanquished my heart' - Ronaldo's letter to fans
These years in Real Madrid, and in this city of Madrid, have been perhaps the most joyful of my life.
I just have sentiments of colossal appreciation for this club, for its fans and for this city. I can just thank every one of them for the love and warmth I have gotten.
In any case, I trust that the time has come to open another phase in my life and that is the reason I have requested that the club acknowledge exchanging me. I feel that way and I ask everybody, and particularly our fans, to please comprehend me.
They have been totally brilliant for a long time. They have been nine one of a kind years. It has been a passionate time for me, brimming with thought yet in addition hard in light of the fact that Real Madrid is of the most noteworthy requests, however I know exceptionally well that I will always remember that I have delighted in football here particularly.
I have had breathtaking partners on the field and in the changing area, I have felt the glow of a fantastic bunch and together we have won three Championships in succession and four Championships in five years. What's more, with them likewise, on an individual level, I have the fulfillment of having won four Gold Balls and three Gold Boots. All amid my chance in this tremendous and exceptional club.
Ronaldo is Real Madrid's unequaled record goalscorer
Ronaldo's most reduced return in a season at Real Madrid was 33 objectives in 2009-10
Genuine Madrid has vanquished my heart, and that of my family, and that is the reason like never before I need to state thank you: on account of the club, the President, the chiefs, my partners, all the specialized staff, specialists, physios and inconceivable laborers that make everything work, that energetically seek after consistently detail.
Much obliged to you boundlessly yet again to our fans and on account of Spanish Football. Amid these nine energizing years I have played against awesome players. My regard and my acknowledgment for every one of them.
I have mirrored a considerable measure and I realize that the time has sought another cycle. I'm leaving however this shirt, this identification and the Santiago Bernabeu will keep on always feel some portion of me wherever I am.
Because of all and, obviously, as I said that first time in our stadium nine years prior: Go Madrid!
'Ronaldo will dependably be one of the immense images' - Real Madrid's response
Ronaldo joined Real from Manchester United for £80m in July 2009 and scored a club-record 450 objectives and won the Ballon D'Or - granted to the world's best footballer - in 2008, 2013, 2014, 2016 and 2017.
He has helped them win the Champions League in four of the previous five seasons, scoring in the 2014 and 2017 finals.
"For Real Madrid Cristiano Ronaldo will dependably be one of the immense images," said a club articulation.
"Genuine Madrid needs to offer its thanks to a player who has ended up being the best on the planet and who has stamped one of the brightest circumstances ever of club and world football.
"Genuine Madrid will dependably be your home."
Who next for Real Madrid?
In spite of their predominance in Europe's head club rivalry, Real battled locally, completing 17 focuses behind champions Barcelona last season.
Genuine are enthusiastic about reshaping their group under new supervisor Julen Lopetegui and the 33-time La Liga champs have likewise been connected with a move for Paris St-Germain's 26-year-old Brazil forward Neymar.
Be that as it may, it would be a dubious move as Neymar put in four years at Real's savage opponents Barcelona before joining PSG in his reality record exchange of £200m the previous summer.
Genuine have likewise been connected with a propel for another PSG, Mbappe, the 19-year-old who has helped France achieve the semi-finals of the World Cup.
Italian football master James Horncastle disclosed to BBC Radio 5 live: "Genuine would be hesitant to lose Ronaldo without a substitution close by. They have been connected with Neymar, who joined PSG for a world record charge last season, and their playing with the Brazilian seems to have put Ronaldo's nose out of joint at Madrid.
"We don't know who is being arranged, be it Kylian Mbappe, Eden Hazard or Harry Kane."
'The arrangement of the century' - investigation
James Horncastle, Italian football master on BBC Radio 5 live
Cristiano Ronaldo scored twice in Real Madrid's 4-1 prevail upon Juventus in the 2017 Champions League last in Cardiff
Juventus were made mindful fourteen days back that Ronaldo may be accessible on ideal terms. Ronaldo had a buyout statement worth $1bn (£886m) and Juventus were disclosed to Real Madrid were eager to acknowledge £100m and Juventus were ready to seek after that despite the fact that it would mean rebuilding their wage framework.
We heard Juventus president, Andrea Agnelli, loaded onto a plane and afterward got a helicopter to see Ronaldo on vacation in Greece. They are calling it the arrangement of the century in Italy.
Juventus have achieved the Champions League last twice over the most recent four years and lost both. One of those thrashings was to Ronaldo's Real Madrid. He scored in the last in Cardiff and he thumped them out in the quarters this year. They trust he is the distinction and the player who could accomplish the Champions League with Juventus without precedent for a long time.
Winning the trophy has been a fixation for them. This is significantly more than about football it's about them setting off to the following level as a business. At the point when Deloitte positioned the 10 most extravagant clubs on the planet prior this year, Juventus were just tenth. They accept by having the capacity to use and monetising a portion of his adherents via web-based networking media and his business bargains, will enable them to close the hole fiscally on Madrid, Barcelona and Manchester United.
The Italians are certain there could be a declaration tonight, in spite of the fact that the better points of interest of the arrangement would take a couple of more days. Juventus' offer costs on the stock trade soar by 33%.
Ronaldo's vocation in details
450 - Ronaldo's Real Madrid-record objective count, in 438 amusements.
17 - his record objective count for a Champions League season, in 2013-14.
105 - add up to Champions League objectives for the club, which additionally included 16 out of 2015-16 and 15 in the latest crusade.
311 - objectives in La Liga.
16 - significant trophies with the club, including two La Ligas and four Champions Leagues, three Club World Cups and three European Super Cups.
44 - cap traps for Madrid including a club-record 34 in La Liga.
8 - the circumstances he scored at least four objectives in a Real match. That included five-objective group pulls against Granada in 2014-15 and Espanyol the accompanying season.
61 - his most productive season for Real came in 2014-15 with 61 objectives in all rivalries, incorporating 48 in the alliance.
659 - vocation objectives, including five for Sporting Lisbon, 118 for Manchester United, 451 for Real Madrid and 85 for Portugal.
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