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By Juan José Castro | Sport in action
Photo: Gazzetta dello Sport
The 30-year-old journeyman, who was a free agent after leaving Brescia in the summer following their relegation from Serie A, is joining on a deal until the end of the 2020-21 campaign.
The Silvio Berlusconi-owned side, the ninth club of Balotelli's illustrious career, currently sit ninth out of 20 teams in the Italian second tier.
The Palermo-born forward won three Serie A titles and the Champions League at Inter Milan, and the Premier League and FA Cup at Manchester City.
He trained with a fourth-tier semi-professional side after leaving Brescia and was linked with Championship side Barnsley and Vasco de Gama.
Sportsmail reported last month that his former manager and current Italy boss Roberto Mancini said he was 'sorry' to see the talented striker struggle so much to find a new club.
Balotelli, who will wear shirt number 45, joins up with former Barcelona midfielder Kevin-Prince Boateng at the Lombardy-based side, who play Venezia on Friday.