The forward's future remains up in the air after a season in which he infuriated Roberto Mancini with numerous disciplinary problems, before helping the club win the title
The 21-year-old Palermo native finished a turbulent campaign on a high by setting up Sergio Aguero for the goal which clinched the Premier League title on Sunday afternoon, but the former Inter striker is still being linked with a summer return to Serie A.
However, the player's representative, Mino Raiola, insists that his client will still be at the Etihad Stadium next season.
"He will not leave Manchester City," the agent told Sky Sport Italia. "He is not on the market."
Another one of Raiola's clients, Zlatan Ibrahimovic, is also rumoured to be considering changing clubs this summer, with the AC Milan forward said to be keen on a reunion with former Nerazzurri boss Jose Mourinho at Real Madrid.
However, Raiola is adamant that the Sweden striker will also be staying put this summer.
"I met [Milan CEO Adriano] Galliani to talk about other things, not Ibrahimovic," he stated. "He [Ibra] has already spoken with Milan and they are both pleased with one another.
"Ibra will still be at Milan on August 30 - I can assure you of that."
The Rossoneri are one of the clubs said to be keen on bringing former Inter hitman Balotelli back to Italy.