Andrea Pirlo also called-up as the duo are set to make their comebacks as Italy prepare for Euro 2012 qualifier and friendly at the beginning of June
Balotelli, who recently won the FA Cup with Manchester City, and Milan veteran Pirlo have been missing from Italy in recent times, but both will now return for their next two games.
There have been few other notable changes, although Roma midfielder Daniele De Rossi has been left out of the team that will take on Estonia in a Euro 2012 qualifier on June 3 and then Ireland in a friendly four days later.
Youngster Sebastian Giovinco’s impressive second half of the 2010-11 campaign for Parma has seen him keep his place in Prandelli’s team.
Here is the full squad list:
Goalkeepers: Buffon (Juventus), Sirigu (Palermo), Viviano (Bologna)
Defenders: Astori (Cagliari), Balzaretti (Palermo), Cassani (Palermo), Chiellini (Juventus), Criscito (Genoa), Gamberini (Fiorentina), Maggio (Napoli), Ranocchia (Inter)
Midfielders: Aquilani (Juventus), Marchisio (Juventus), Montolivo (Fiorentina), Thiago Motta (Inter), Nocerino (Palermo), Palombo (Sampdoria), Pirlo (Milan)
Forwards: Balotelli (Manchester City), Cassano (Milan), Gilardino (Fiorentina), Giovinco (Parma), Matri (Juventus), Pazzini (Inter), Rossi (Villarreal)