According to Alfredo Pedulla, Balotelli has agreed a one-year deal to join Genoa with an option for a second season.
Balotelli, 30, is a free agent after being let go by relegated Brescia, his hometown team.
But his future appears to be at Genoa, with very little standing in the way of a deal being finalised.
Meanwhile, Genoa hope to re-sign Antonio Sanabria, who spent last season on loan from Real Betis.
And the Italian club are also waiting for a final nod from Andrea Ranocchia before signing the Inter defender.