The 22-year-old received nine yellow cards and three red cards - and a four-game ban for stamping on Tottenham midfielder Scott Parker - throughout the 2011-12 season, for which the Premier League champions saw fit to discipline the player.
Balotelli took the punishment to a tribunal after refuting the severity, but the club has no confirmed that the striker has withdrawn the external action and accepted the fine "as a sign of respect for Roberto Mancini, the supporters and the club".
A statement from Manchester City read: "After amicable talks between the parties, as a sign of respect for Roberto Mancini, the supporters and the club, Mario Balotelli has chosen to accept a two-week fine levied upon him by the club and withdraw his disciplinary appeal, which was due to be heard by a Premier League panel [on Wednesday].
|BYE BYE BOBBY|
|7/1||Roberto Mancini is 7/1 with William Hill to be the next Premier League manager to leave his job this season|
"Mario remains available for selection for all forthcoming fixtures."
Balotelli has made 11 league appearances for City so far this campaign, scoring just one goal, and Mancini spoke earlier on Wednesday about the need for more committment from the striker in training.