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The 19-year-old French youth international, who made a brief substitute appearance in last season's Champions League final loss to Barcelona, has played at Juventus since 2014 after joining from Paris Saint-Germain.
"Kingsley Coman is one of the biggest talents in European football," Bayern sports director Matthias Sammer said in a statement.
"So we are delighted we have been able to sign him for Bayern. Kingsley is quick, technically skilled and an attack-minded player. Hopefully we will benefit from having him at the club."
Coman was the second player the German champions have signed from Juve this season after Chile international Arturo Vidal.


It is understood the Germany international will not move to long-term admirers Juventus unless he fails his medical at Wolfsburg.
The report goes on to suggest Schalke will receive €36million for the transfer.
The former Borussia Dortmund man has been struggling to find his feet under Pep Guardiola and the close-season arrival of Douglas Costa is set to further threaten his chances of starting regularly. Gotze featured for the final 25 minutes of Friday's opening-day Bundesliga victory against Hamburg before playing much of Monday's friendly win at Dynamo Dresden.
Sammer has now sought to quell speculation of Gotze leaving Bayern amid ongoing reports of interest from Juventus and Arsenal.
"Let's just all agree on one thing and that is that we just let Mario play football," Sammer told Bild.
"He enjoys our complete confidence, but now leave the boy in peace. It will be better if we do not talk about it constantly.
"If you want to win something big, you need just these players. Dealing with them is even more important than with those who play."
Gotze's relationship with Guardiola has been the subject of scrutiny in recent weeks, with the midfielder having suggested the Bayern boss does not talk to him enough.
The 23-year-old later backtracked on his comments, insisting he was "happy" and "comfortable" at the

The 19-year-old impressed with a number of fine displays in his maiden campaign with Juventus after joining the Serie A champions from Paris Saint-Germain and Bayern are keeping a close eye on his situation in Turin. Coman has a contract with Juventus until 2019 and Bayern could face a tough task to lure him away from his current club, yet Vidal feels it would be worth the effort.
"Kingsley is not only a young player, but is also incredibly fast and has a lot of quality," Vidal was quoted as saying by Sport Bild.
"He has a bright future ahead of him. He would be a fine signing for Bayern if he were to follow me to Munich."
Vidal has been compared to former Bayern star Lothar Matthaus because of his style of play and he feels honoured to be likened to the ex-Germany midfielder.
"I read about the comparisons with Matthaus. I agree that we are similar type of players.
"It's a huge compliment when someone like Lothar himself makes such a comparison. He has a big reputation in football. I hope that I can live up to the expectations."
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The Allianz Arena side faced little competition domestically over the past two seasons and have set their sights on their fourth straight league title this campaign. However, Low believes Wolfsburg are one of several teams who have what it takes to challenge the reigning champions, even though he feels Bayern have strengthened well this summer.
"Bayern have become even more flexible with the arrival of Arturo Vidal and Douglas Costa," Low told the official DFB website.
"Pep Guardiola has a team of unrivalled quality. But that's not to say the Bundesliga title is already theirs.
"Developments at Wolfsburg are rather impressive. I have a lot of faith in Dieter Hecking and his squad. They managed to hold on to their best players and signed a great player like Max Kruse.
"And other teams have the potential to get in the mix for the Bundesliga title as well. Wolfsburg will not be the only team out there challenging Bayern."
Bayern kick off the 2015-16 Bundesliga campaign with a home game against Hamburg on Friday evening.-->

Wolfsburg manager Dieter Hecking has revealed that Barcelona, Real Madrid and
Bayern Munich are all keen on Manchester City target Kevin De Bruyne.
De Bruyne, the Belgium midfielder, is a firm target for City, who are expected to fork out a figure well in excess of £40m to bring him back to the Premier League.
However, City are not the only club interested in the former Chelsea man, with the 24-year-old’s current boss Hecking revealing that the playmaker has a string of high-profile admirers.
Hecking told Spox.com : “Despite my esteem for Manchester City, I have to say that Real Madrid, Bayern Munich and Barcelona have all expressed an interest in Kevin de Bruyne and there have been approaches for him. He will only leave if there is an extraordinary offer for him. I am not ruling anything out and we will listen to offers, but in reality we could allow him to leave for a huge offer.”

The Bundesliga champions triumphed 3-1 at fifth-tier outfit, but it was the soaring temperatures that caused the biggest problems.
Goals from Arturo Vidal, Mario Gotze and Robert Lewandowski ensured Bayern avoided what would have been an unthinkable upset, much to the boss' delight.
"This round is always dangerous. I'm very satisfied," said Guardiola.
"My players had the desire, but it's not easy when the temperature's 36 degrees at four in the afternoon.
"We need energy for the league restart against Hamburg on Friday."
Captain Philipp Lahm, meanwhile, feels there is plenty of room for improvement ahead of Friday's Bundesliga opener against Hamburg.
"There's no question we can play better than that," he added. "But what mattered was that no-one got injured and we're through to the next round."
The 50-year-old took over in 2012 and guided the club to its maiden DFB-Pokal title last season, triumphing over Borussia Dortmund in the final.
Hecking, whose previous was due to expire in 2016, more recently masterminded Wolfsburg's DFL-Supercup win over Bundesliga champions Bayern Munich and has now been rewarded with a new contract.
"If something good has come together, one should not separate," Hecking said of his decision to sign.
"I'm therefore delighted that we will continue the successful path together in the coming years.
"I have always stressed that I am pleased to remain beyond 2016. We have a lot of plans for the coming years and I look forward to the tasks that lie ahead."
Pierre-Emerick Aubameyang and Henrikh Mkhitaryan found the net as Thomas Tuchel's side booked their place in the second round of the DFB-Pokal.
Dortmund rarely shifted out of first gear as they conserved their energy for the start of the Bundesliga next weekend, but Hummels felt there were plenty of positives to be taken from the performance.
"In the first half we did very well," he said. "Chemnitzer struggled to get a shot on goal and we had chances to lead by more than 1-0. This is something that happens to us quite frequently.
"On the positive side, we came up against a deep-sitting opponent and managed to create some clear chances. That was a shortcoming in the past few years.
"In the second half we allowed the game to open up and Chemnitzer started to believe in themselves again.
"Roman Burki saved well from Anton Fink's wonderful shot and there were one or two other edgy situations.
"At 2-0, the win was sealed."
Mkhitaryan's treble came within 13 breathless minutes late in the second half and Tuchel hailed the Armenian as a player he hopes can lead by example.
"Mkhitaryan is an absolute model professional. I'm very glad to have him in this team," the head coach said.
"It's a great pleasure for me to work with him and to watch him and see how he deals with his talent."
All of Dortmund's goals came in the second half after a first period of near misses and poor finishing had set pulses racing at Signal Iduna Park. Aubameyang especially was guilty of spurning numerous chances throughout and, though pleased with his side's efforts after the interval, Tuchel was keen to stress the need to strive for better.
"The second half was a good reaction to the first," he added. "We played with great tempo, showed good temperament, created many chances and ended with five goals scored.
"I was pleased with the second half, but in the first half we had a lack of positional discipline and could not play our passes.
"In the second 45 minutes we showed great discipline in the spaces in which we want to combine. As a consequence we could play much faster passes and play between the lines."
Speaking after Bayern won the Audi Cup with a 1-0 win over Real Madrid on Wednesday night, Gotze only revised part of his remarks from 24 hours earlier, when he was particularly coy about what the future held, saying he had endured two difficult years with the club.
The 23-year-old continued to leave the door open to a transfer among persisting rumours that Italian champions Juventus are preparing a bid.
"Whatever happens, there's no question that I'm happy here,” Gotze said.
“As for the rest we'll just have to wait and see, like I said on Tuesday."
Gotze, who has been linked with Juventus, would not rule out a move when talking to reporters at the Allianz Arena on Tuesday.
"I played a pretty good game tonight and now we'll have to see what happens next," he said.
"All will become clear if the coach will talk to me more often. I'll just wait and see, then we'll also see what happens after. [My future] will also then be revealed. The last two years have not been so easy."
Schweinsteiger swapped Bayern for United this summer and Guardiola said: "I am complete convinced that he will do very very well at Manchester United.

“He is a top player, unfortunately last two years he had problems with his injuries.
“He was never in good physical condition. When he is in good condition he is a big star and is a really good player. I hope that is going to happen (at United).”
Pierre-Emerick Aubameyang has extended his contract at Borussia Dortmund until 2020.
Reports in England had linked him with a move to the Premier League with both Arsenal and Tottenham thought to be interested..
"I feel very happy at this club, in this team and in this city. Dortmund has become like a second home to me," Aubameyang said.
"Every part of me wants to be here and I've never wanted to leave."

"I am coach of Bayern and I am grateful to be here," he said at a press conference.
"I haven’t decided my future yet. As soon as I come to a decision, I will inform Kalle Rummenige, Matthias Sammer and Uli Hoeness. "We still have a lot of time. But if I will extend my contract, I must be absolutely sure that it is the best for the club. I don’t want to become a problem for FC Bayern.
"I did my very best, am doing my very best, will do my very best.
"I haven’t receive any offer from another club."
Guardiola then went on to discuss Philipp Lahm, who could return to the defence more regularly after being played as a midfielder last term.
"Philipp is one of our most important players. He played in a number of positions during our trip to China and always did well.
"I like him in midfield because of the way he anticipates certain situations. But we have plenty of alternatives in midfield, whereas Rafinha is our only other right-back.
"So Philipp will be used both in midfield and in defence throughout the season."
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The Belgian has been linked with a move to Manchester City, but Allofs said: "We expect Kevin de Bruyne to be with the team for the Super Cup and afterwards during the season, that’s the plan, to keep our players here.
"That’s not just the case for De Bruyne, but also Ivan Perisic, Bas Dost and Ricardo Rodriguez. These are all players who have been named in speculation."

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Besiktas have confirmed that they have signed Mario Gomez on a season-long loan from Fiorentina with an option to buy.
"Besiktas announce that Thursday the club reached an agreement with Fiorentina for the loan of Mario Garcia Gomez," a statement on the club's website reads.
"The contract includes an option to make the deal permanent."
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Bayern Munich
icon Franz Beckenbauer has told head coach Pep Guardiola that he must win trophies if he wants to feel loved.
The former Barcelona boss revealed earlier this week that one of his main goals in life is to be admired and revered for his work - and Beckenbauer has stressed that success is the quickest way to earn the fans' affection.
"Love is the biggest thing one can achieve. He will get the fans' love when he wins trophies," Beckenbauer was quoted as saying by TZ.
"If he does not win any silverware, which I cannot really see happening, love will become just affection."
Bayern have dominated the Bundesliga under Guardiola in the past two campaigns, securing the title well before the end of the season on both occasions, yet Beckenbauer feels they could face a tough task to maintain their hegemony in 2015-16.
"The Bundesliga will be much tigher than in the past two seasons, when Bayerrn were well on top," the World Cup winner added.
"Wolfsburg have shown that they can fight for top honours. Dortmund will be back next season. I hope Schalke will be strong once more. And then there's Bayer Leverkusen and Borussia Monchengladbach.
"There will be more contenders for the Bundesliga title."
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