"The economic and financial effects of the understanding reached are positive for about 90 million euros ($100.5 million) for the 2019/2020 financial year," said a club statement.
Over 10,000 people have died from COVID-19 in Italy, more than in any other nation.
Italian champions Juventus, who led second-placed Lazio by a point in Serie A before the suspension of the season, said they had agreed a "reduction" for pay from March until June.
Juve added that should the season be finished later in the year, the players could be paid extra in those months.
"Juventus would like to thank the players and the coach for their commitment at a difficult time for everyone," the Turin giants said.
Players at other big European clubs have also agreed to take pay cuts, including Bayern Munich and Borussia Dortmund in Germany.
Juventus' highly-paid stars include five-time Ballon d'Or winner Cristiano Ronaldo and Wales midfielder Aaron Ramsey, who joined from Arsenal on a free transfer last year.
Earlier this week, Italian sports minister Vincenzo Spadafora said he was "very, very doubtful" that Serie A action would return as previously hoped in early May.