AC Milan will then have the option to buy Higuain next summer following his loan spell.
Chelsea were also reportedly interested in Higuain, but it looks like he is set to stay in the Serie A.
Higuain's agent and brother Nicolas met up with the AC Milan general manager Leonardo on Monday in order to discuss terms.
The clubs are meeting today to finalise the details.
The loan move could also pave the way for other deals.
For example, Leonardo Bonucci could return to Juve from Milan, while Mattia Caldara goes the other way.