The young Italian striker moved to City from Inter Milan before the season and despite making headlines on and off the pitch at Eastlands, he is committed to the English club.
"For the time being, I am happy in England," Balotelli told Corriere dello Sport.
Balotelli, who is currently in Italy after helping City win the FA Cup, has never hidden his love for AC Milan but insists that a move to the Rossoneri is out of the question.
"I compliment Milan for winning the scudetto, but with regards to me, I am happy in England," he said.
Balotelli's agent Mino Raiola is confident his client's long-term future is at City, where he is under contract until June 2015.
"I'm 2000 per cent certain that Balotelli will remain at Manchester City," Raiola said.
The 20-year-old finished the Premier League season in good form and has been recalled to the Italy squad for the Euro 2012 qualifier against Estonia on June 3 and the friendly against the Republic of Ireland four days later.
Balotelli was dropped for the victories over Slovenia and Ukraine in March due to a violation of the team's code of conduct.
The Italy international was sent off during a Europa League match for a violent tackle on Dynamo Kiev defender Goran Popov.
Source: PA
Source: PA