The 22-year-old's agent compared his client's value to the work of art, which was last insured in 1962 for today's equivalent of £477 million, adding that City do not want to sell
The 22-year-old, who is behind Carlos Tevez, Segio Aguero and Edin Dzeko in Roberto Mancini's pecking order at City, has been continually linked with a move to the Italian giants who are currently struggling in Serie A - sitting in seventh position.
The club's president, Silvio Berlusconi, has recently suggested that their reported interest in the Azzurri international is serious, commenting that signing the controversial attacker "is not a dream" with the January window around the corner.
However, Balotelli's agent has now rubbished talks that his client is set to switch the Etihad Stadium for the San Siro in the New Year, indicating that he would be too expensive for all Italian sides, comparing his value to that of Leonardo da Vinci's Mona Lisa.
"Balotelli costs as much as the Mona Lisa," Mino Raiola told Sky Sport Italia. "There are no teams in Italy who could afford him."
The work of art was last valued in terms of insurance in 1962 for around £62 million, which, taking into account of inflation, would be the equivalent of £477m today.
Despite the former Inter Milan striker starting just eight games for City this season, his agent also indicated that, even if Milan had the funds, the Premier League outfit are not willing to let their enigmatic forward leave.
Raiola added: "Manchester City don't want to sell Balotelli."