The match was due to take place at the Bloomfield stadium in Tel Aviv on Sunday but a renewed surge in hostilities in the region prompted the promoters Comtec Group to call it off.
“Due to the latest developments, the friendly between Atletico Madrid and Juventus, scheduled in Israel, has been cancelled,” said Juventus in a statement.
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Israel hit Gaza with air strikes on Saturday and a Palestinian militant group retaliated with a barrage of rocket fire, in the territory’s worst escalation of violence since last year.
Juventus start their Serie A campaign with a home tie against Sassuolo on August 15 while Diego Simeone’s Atletico play their LaLiga opener against Getafe the same day.