The midfielder joined Juve at the start of this term on a season-long loan with them having an option to make the deal permanent for £16m this summer, Rafa Benitez paid Roma just under £20m to sign him in 2009.
Despite a return to form for the 26-year-old, and the desire on all sides for the deal to be done, Juve have said they will not pay the asking price and it remains to be seen if an agreement can be reached.
"There is a buy-out clause that has to be activated by May 15," Juve's general manager Giuseppe Marotta told Sky Sport Italia.
"We'll try to reach an agreement before the deadline. I can certainly say we will not sign Aquilani for the sum set by Liverpool."
Kenny Dalglish recently suggested if Juve do not pay the asking price, then they will welcome Aquilani back to Anfield.