The Manchester City player has been beset by controversy at the Premier League champions, most recently following an apparent training ground altercation with boss Roberto Mancini, and the attacker has been linked with a move to several European sides.
But Galliani told Sky Sports: "The rumours linking us with Mario Balotelli are false.
"I do not have a problem with the striker himself but our forward department is complete."
Meanwhile, 68-year-old Galliani has officially ruled out the departure of Brazilian Robinho, who had been expected to leave the club in the current transfer window.
"Robinho will not leave," he added.
"Robinho did not want to leave Milan, he just wanted to go home. We failed to agree a deal with Santos and his agent couldn’t agree personal terms either.
"Other Brazilian clubs were ready to fulfil all the requirements, but Robinho wanted to stay with Milan. I heard from Gremio yesterday and they wanted him at all costs.
"Our attacking options are sorted, there will be no ins or outs. Robinho is happy to stay at Milan, so he will."
Robinho has scored two goals in 11 appearances in Serie A this season.