With his success at Napoli, Lippi became a managerial target for the top Serie A clubs, with Juventus ultimately winning the race to secure his services.

He won the Serie A title and the Coppa Italia in his first season at the club, also reaching the 1995 UEFA Cup final, with a team that included players who would play an important role in the club's future successes, including Gianluca Vialli, Fabrizio Ravanelli, Roberto Baggio, Alessandro Del Piero, Angelo Peruzzi, Angelo Di Livio, Moreno Torricelli, Didier Deschamps, Paulo Sousa, Antonio Conte, Alessio Tacchinardi and Giancarlo Marocchi, as well as Ciro Ferrara, a player Lippi had previously coached at Napoli and who later acted as his assistant with the Azzurri.

With the arrival of several new key players which included Zinedine Zidane, Edgar Davids, Filippo Inzaghi, Mark Iuliano, Paolo Montero and Igor Tudor, these victories were followed by consecutive league titles, the 1996 UEFA Super Cup, the 1996 Intercontinental Cup and the 1997 Supercoppa Italiana, as well as two more consecutive Champions League finals and another semi-final.

[10] Following the departure of Inzaghi to Milan and Zidane to Real Madrid for a world record fee, the club acquired Pavel Nedvěd, Gianluigi Buffon and Lilian Thuram to reinforce its line-up,[11] and managed to win two further scudetti under Lippi, as he also led the bianconeri to consecutive Supercoppa Italiana titles and two Coppa Italia finals, as well as the 2003 UEFA Champions League final held at Old Trafford;[2] Juventus lost out to Milan in a penalty shootout, however, after both the teams failed to score during regulation and extra time.

Lippi was appointed head of the Italy national team in July 2004, following a disappointing UEFA Euro 2004 campaign under Giovanni Trapattoni.

During the late weeks of the 2005–06 season Lippi was under scrutiny surrounding the 2006 Serie A scandal (Calciopoli); blamed because of his long-standing ties and previous history with Juventus, and pressured to step down as Italy coach.

[15] In Lippi's formation, Totti occupied the advanced creative role behind the main forward, in particular target-man Luca Toni, while Pirlo was deployed in the deep-lying playmaking role; the two players were supported defensively by hard-working box-to-box midfielders, such as Daniele De Rossi, Gennaro Gattuso, Simone Perrotta and Simone Barone, as well as winger Mauro Camoranesi, and attacking full-backs Gianluca Zambrotta and Fabio Grosso, who were expected to push up the flanks.

[24] Three days after the final, Lippi did not renew his expiring contract with the Italian Football Federation (FIGC), and left his office as coach of Italy.

[3] Italy took part in the 2009 FIFA Confederations Cup under Lippi, where they suffered a first-round elimination following a 3–0 loss to Brazil in their final group match.

[29][30][31] Italy's performance at the 2010 World Cup was extremely poor, drawing 1–1 with both Paraguay and New Zealand before losing 3–2 to Slovakia and finishing bottom of the group.

[36] On 17 May 2012, Chinese Super League side Guangzhou Evergrande announced that they had officially signed Lippi on a two-and-a-half-year deal worth around €30 million, replacing Korean manager Lee Jang-soo.

Four days later, on 6 October, he led Guangzhou Evergrande to win their third consecutive Chinese Super League title by beating Shandong Luneng Taishan 4–2 away.

[45] Lippi led the side during the final stage of the 2019 AFC Asian Cup, where China won 2–1 over Kyrgyzstan and 3–0 against Philippines, before losing 2–0 to group leaders South Korea on 16 January.

[46] China then beat Thailand 2–1 to earn a place in the quarter-finals, where the Chinese team was knocked out by Iran after a 3–0 defeat on 24 January; Lippi subsequently confirmed his departure as head coach.

[53] In his book Il Gioco delle Idee: Pensieri e Passioni da Bordo Campo ("A Game of Ideas: Thoughts and Passions from the Sidelines"),[9][54] Lippi outlined his coaching philosophy.

"[2] In the early part of his managerial career, Salvatore Lo Presti noted that Lippi was known for implementing an energetic and offensive style, which used a zonal marking system in defence;[55] throughout his time at Juventus, he frequently used a high defensive line and the offside trap, with Peruzzi and subsequently Buffon acting as sweeper-keepers,[56][57] while he used heavy pressing off the ball, with the team's forwards being the first line of defence, putting pressure on their opponents.

[9] In 2017, Nicky Bandini also noted in an article for FourFourTwo that Lippi switched from his initial 4–3–3 system to a 4–4–2 formation to better accommodate the arrival of French offensive playmaker Zinedine Zidane at Juventus during the 1996–97 season; he was ultimately given licence to operate in a free role between the lines.

During his second spell at Juventus, he used a fluid 4–4–2 formation, with Pavel Nedvěd acting as a left winger on paper, who would frequently cut inside and move into the centre to shoot on goal, or operate in a creative role behind the forwards as an attacking midfielder, while he would also cover for the full-backs defensively.

[65][66] During the 2002–03 season, in order to accommodate the club's new right winger Camoranesi into the team's starting line-up, Lippi successfully shifted Zambrotta to a left-sided full-back role, due to his ability to overlap, run down the flank, provide width, cross into the box, or even cut inside and shoot on goal himself with his stronger foot.

[73] Similarly, during Italy's victorious 2006 World Cup campaign, Lippi was praised for adopting several tactical systems that allowed his two star playmakers, Francesco Totti and Andrea Pirlo, to play alongside one other.

[18][20] World Soccer magazine also noted that Lippi's tactical flexibility throughout the tournament was further demonstrated by the fact that he often changed formations throughout the course of a single match, in addition to rotating players.

[81] In 2001, former footballer Roberto Baggio, who had a difficult relationship with Lippi, and who was often critical of his former manager, also noted in his autobiography – Una porta nel cielo – that he was impressed, however, by the fact that Lippi also paid great attention to his players' diets, and to their athletic preparation, and always made use of the newest technologies and hired athletic coaches who used the most current training methods.