The deal had collapsed earlier this week due to personal terms.
Villa and Juve had originally agreed terms over a move which would see Luiz move to Turin in exchange for Weston McKennie and Samuel Iling-Junior.
However, the move broke down as McKennie's personal demands were regarded as too steep by Villa.
After a few days break, the two clubs are now returning to the table with Enzo Barrenechea taking the place of McKennie in the exchange.
Argentine midfielder Barrenechea spent last season on-loan at Frosinone and now both he and Iling-Junior are being offered by Juve to Villa for Luiz.