The Bianconeri were ready to meet Arsenal's £35million valuation for the attacking midfielder but in the end the North Londoners opted not to sell one of the most important players in Arsene Wenger's squad.
Both Dani Alves and Miralem Pjanic have joined the club and reports last week suggested they had made a bid for Sanchez.
Apparently the Gunners initially placed a price tag of £34 million on the player but when Juventus actually approached the club with the said amount, they were told that the player is not available for sale.
Will Alexis Sanchez leave Arsenal this summer?
"We had asked for the player's price-tag and Arsenal valued him at €40m (£34.1m), a sum that we considered reasonable".
The Italian champions along with German giants Bayern Munich were reportedly interested in signing Sanchez.
He also scored 3 goals with 5 assists in 7 Champions League games, and he won the Golden Ball of the Copa America this summer.