Prosecutors are expected in September to request that the executives stand trial on charges of defamation and violation of privacy for allegedly failing to control adequately the content of the site, the paper cited people close to the probe as saying.
The executives targeted in the probe are the top legal representative and chairman of the board of Google's Italian unit at the time; another Google Italy board member at the time; an executive responsible for Google's privacy policies in Europe; and the then-head of Google Video for Europe, the paper said.
The men were put under investigation not for their direct role in the posting of the material in question but because they had positions of authority over the operations involved, the people familiar with the probe told the paper.
An Italian advocacy group for Down syndrome prompted the probe in Milan when it lodged a complaint after being alerted to the video in September 2006, the paper said.
The video shows a disabled teen taunted by peers.
Stefano Hesse, head of corporate communications for Google, told the Journal that the company had cooperated with Italian prosecutors from the beginning of the investigation and will continue to do so.
Google's Italian office could not immediately be reached for comment.