Young Manchester City forward has been told he will need to wait before fulfilling a move back to Italy as more attackers are not needed for the San Siro side at the moment
The 20-year-old Italian joined City last summer after leaving Inter, but recently claimed he was not happy living in Manchester.
Balotelli said he did not know whether he would be staying at Eastlands, while claiming he would talk about a Milan move in the future.
However, for now, Galliani appears to have dampened the striker's hopes of moving back to San Siro.
"Balotelli is certainly a talent but we are full of strikers," Galliani told La Repubblica.
Speaking of the chase for a midfielder, the Italian chief said a return for Real Madrid's Kaka was impossible, but maintains a player for a role in the middle will likely arrive by the end of the transfer window.
"Kaka? It's an impossible operation. If someone arrives it will be in the final days of the transfer market and it will be a left-sided attacking midfielder," concluded the chief.
Milan have been linked with Liverpool's Alberto Aquilani, Fiorentina's Riccardo Montolivo, and Arsenal's Cesc Fabregas.