Rincon spent just seven months at Juve following his arrival from Genoa last season and was unable to nail down a starting berth at the Turin club, having made just two starts in Serie A and 11 more appearances from the bench.
The 29-year-old will now be turning out for Torino who have paid to cover a £2.7m loan fee, which also gives the club an option to buy the midfielder for around £5.5m should the Granata wish to make the move permanent in the future.
"I wish to thank [Torino president Urbano] Cairo and coach [Sinisa] Mihajlovic for the trust you have placed in me, my commitment will never fail to repay the club," Rincon said following his move across Turin.
"I cannot wait. Now that I am at the disposal of the technical staff and my team-mates, I am ready to make my contribution."
Rincon has made 82 appearances for Venezuela at international level.