The 26-year-old scored three goals and provided four assists in 36 competitive appearances last season as Juventus finished sixth in Serie A, a result that means the club will play Europa League football next season.
Cambiaso has been linked with a possible departure from Juventus this summer, with interest primarily coming from Barcelona and Chelsea.
He holds a contract with Juventus that runs until the summer of 2029.
On Tuesday evening, La Gazzetta dello Sport reported that Barcelona could include defender Ronald Araujo as part of a possible deal for Cambiaso.
According to the report, however, Juventus are only interested in receiving a cash fee for the player rather than agreeing to any swap involving Araujo.
Fresh reports have since emerged regarding interest from elsewhere in Europe.
La Gazzetta dello Sport also reports that negotiations between Chelsea and Juventus are accelerating, with the London club exploring a different approach to any potential deal.
According to the report, Chelsea could include forward Nicolas Jackson, 24, as part of a package for Cambiaso.
Juventus, however, are understood to want any deal involving Jackson to include a significant cash component in addition to the forward.
Jackson spent the past season on loan at Bayern Munich, scoring 11 goals and providing three assists in 34 competitive appearances for the German club.
He holds a contract with Chelsea that runs until the summer of 2033, giving the west London club considerable control over how any deal involving the Senegalese forward is structured.
Cambiaso's versatility and consistency at left-back have made him one of the most coveted Italian defenders in this summer's market, with Juventus facing a decision over whether to cash in on a key player or resist the growing interest from two of Europe's leading clubs.
Talks between all parties are expected to continue in the coming weeks as Juventus weigh up the most beneficial structure for any departure, with the club keen to reinvest any proceeds into further squad improvements following a disappointing domestic campaign.
Both Barcelona and Chelsea view Cambiaso as a player capable of strengthening their respective defensive options immediately, with his ability to operate effectively in multiple tactical systems seen as a key part of his appeal.
For Juventus, the decision over Cambiaso's future will likely hinge on whether either club is willing to meet their valuation in cash terms, with the Italian club reluctant to weaken their squad further without adequate financial compensation in return.