The Italian champions beat Porto 1-0 at Home to reach the last eight, while the Foxes also progressed by overcoming Sevilla.
Buffon, the legendary Italian captain, 39, said: “Who do I prefer not to play? Leicester.
“They are a dangerous and passionate team who can cause trouble for opponents who take the initiative. We would have everything to lose.”
Real Madrid, who have won Europe’s premier knockout tournament for a record 11 times and five-times winners Barcelona and Bayern Munich are all among the sides which are already through to the last eight.
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English champions Leicester reached the last eight in their maiden Champions League campaign with a 2-0 home victory over Spanish title hopefuls Sevilla to go through the last-eight with a scoreline of 3-2 on aggregate.
Juventus, who are two-time European champions, Dominated the attacks and managed a routine 1-0 home win against the Portuguese leaders Porto to complete a 3-0 aggregate victory.
They are widely ranked as the fourth favourite team to win the Champions League by many bookmakers, who also make Leicester the rank outsiders.