Palermo have signed Fabrizio Miccoli from Juventus and seen David Di Michele leave the club to join Torino.
Di Michele was a regular starter for Palermo last season and scored seven goals in Serie A.
Palermo president Maurizio Zamparini allowed Di Michele to leave only after lining up Miccoli as his replacement.
Miccoli, who has spent the last two seasons on loan from Juventus at Benfica, has signed a three-year deal with Palermo, after a fee of £3million was agreed with Juventus.
“I’m really happy. Finally after two important seasons for my career, I am coming back to Italy and going to a big side,” he told Palermo’s official website.
“I thank Maurizio Zamparini and sporting director Rino Foschi for the faith they have shown me.”