The Azzurri full-back, who featured in Sunday's Euro 2012 defeat to Spain, has been linked with AC Milan, Inter and Napoli, but insists he will not join another Italian club
The Italy international has been heavily linked with Inter and AC Milan in recent weeks, while Napoli have also reportedly entered the fray.
However, Balzaretti has revealed that there is no chance of him moving to one of the Rosanero's rivals.
"I know nothing about Napoli's interest," the left-back told Il Corriere dello Sport.
"I spoke with [Palermo president Maurizio] Zamparini a week ago and there are alternatives: either I will go to PSG or I will stay at Palermo. You'll know what I'm going to do in the next few days."
Balzaretti featured as a substitute in Italy's 4-0 annihilation at the hands of Spain in the final of Euro 2012 on Sunday, but in spite of the crushing nature of the defeat, the 30-year-old insists that the Azzurri have returned home from Kiev without any regrets.
"There's no frustration because they play great football; their play is truly spectacular," he pointed out.
"And then we were tired; we played many games. It was a tough tournament with matches too close together.
"But this Nazionale definitely has a future, [Italy boss Cesare] Prandelli gave us his compliments."
Balzaretti, who has been capped 12 times by his country, joined Palermo from Fiorentina four years ago.