The former Manchester City man has been without a side for the last four months after leaving Turkish Super Lig outfit Adana Demirspor over the summer to become a free agent.
During his time in Turkey, Balotelli scored seven goals in 16 games and is thought to be seeking another challenge before calling time on playing professional football.
However, according to Fabrizio Romano, Balotelli has now decided to join Italian side Genoa following multiple conversations with manager Alberto Gilardino.
Mario Balotelli, pictured in April, has been without a club since leaving Adana back in June
It is said that Balotelli will sign a contract with Genoa until June 2025 after making it clear that they were his first choice.
Romano has also claimed that Balotelli decided to join Genoa despite the club offering a 'reduced salary'.
Genoa currently sit 18th in Serie A after eight rounds of fixtures.
Discussing his career on streamer Enerix's Twitch channel, Balotelli grew incensed when he was compared to footballers plying their trade in Serie A.
When Enerix argued that Joel Pohjanpalo - who currently plays for Venezia - was a more sensible pick for a newly promoted side than Balotelli, the former Man City star queried: 'What the f*** are you saying?
'Just because I wasn't in Serie A (in recent years), what I did doesn't count? F*** off, you and Serie A.
'It's a promise, I'll smash Serie A when I sign (for a new club), I'll smash this f****** Serie A.'
Balotelli has previously played in Serie A for three different clubs.
Balotelli pictured in 2009, next to Zlatan Ibrahimovic (left), when he was an Inter Milan player
He scored 20 goals in 59 league games for Inter Milan between 2007 and 2010, before moving to Man City.
He later netted 27 times in 63 Serie A appearances for AC Milan over two spells, before scoring five goals in 19 matches for Brescia in the 2019-20 campaign.