Pirlo went into management after a glittering career with Milan and Juventus, while lifting the World Cup with Italy in 2006.
The 43 year-old initially managed Juve's Under-23 side before being appointed as head coach of the first team.
But the Azzurri great endured a largely unsuccessful spell, finishing fourth in Serie A as Juve missed out on a 10th straight Scudetto.
Massimiliano Allegri replaced Pirlo at Juve in 2021 and the latter has been out of work ever since.
Karagumruk announced the appointment of Pirlo on Monday (AEST), with a short statement that read: "The world-famous footballer recently coached Juventus, one of the most important clubs in Europe.
"Having also had Champions League experience with Juventus, Pirlo signed the contract that made him a member of Karagumruk for one year, starting on 1 July.
"Pirlo's press conference will be held on Tuesday, June 14, and the place and time will be announced later by our club. We welcome our coach and wish him success."
Pirlo will look to improve upon Karagumruk's surprise eighth-place finish in the 2021-2022 Super Lig next season.