The Citizens are 13 points adrift of rival Manchester United, which already wrapped up the league title, and City's only chance to win silverware this season comes in the FA Cup final clash with Wigan on Saturday.
Balotelli, who joined AC Milan from City in a January transfer, has no doubt that City will reinforce its squad in the summer and win back the crown it clinched during his time at the Etihad Stadium.
"Roberto [Mancini] will do everything he needs this summer and Manchester City will win back the title next season. City will sign two or three of the best players in the world - and we will not see a repeat of this season," Balotelli told The Sunday Mirror.
Balotelli was, however, wary of the upcoming Wembley showpiece as he cited the unpredictability of the competition.
"The FA Cup final has become a very big game for Manchester City, even though it was not the trophy we were all talking about in the dressing room at the start of season," Balotelli said. "Everybody wanted to retain the league and also do well in Europe.
"But those two things did not work out - so now the FA Cup means everything. City are now at the level where the fans expect a trophy every year - and, even though the FA Cup was not the biggest trophy they could win, it is still a big trophy."
"Of course, City should win it, but football can be strange. I learned an English saying when I played for City - 'The magic of the cup.'
"It means anything can happen. All the players are professional and will treat Wigan with respect, while Roberto [Mancini] knows how important this game is, so he will not allow for any complacency."