The Croatia legend has hit out at the AC Milan striker claiming "he would be carrying other stars' bags" in his day
The 23-year-old has yet to produce to his best form this season after a bright start to life at Milan in the first half of 2013 following his transfer from Manchester City.
And Boban feels Balotelli has not done enough to merit the hype surrounding him.
"There's way too much talking about Balotelli. All he has achieved in his life is sitting on the bench at other clubs," Boban told Sky Sport Italia.
"He would have been carrying the bags of players such as Marco van Basten, George Weah and Andriy Shevchenko in my days.
"He does not understand what it means to wear the Milan jersey. Milan will always be bigger than Balotelli."
Boban, who made over 250 appearances for the Rossoneri between 1991 and 2002, then went on to criticise the attacker's attitude and stressed that he still has a lot to learn.
"His poor attitude is only further proof that he does not seem to understand the value of playing for Milan," he continued. "People like Marcel Desailly, Paolo Maldini and Franco Baresi would have slapped him for showing up late.
"He should look at Kaka and learn from him. Kaka has won the Champions League, the World Cup and the Ballon d'Or, yet he keeps running and working like a youngster."
Balotelli has netted three goals in eight Serie A appearances so far this term.