The Italy international has been linked with a return to the Premier League amid speculation of interest from Arsenal and Chelsea, with Milan languishing in 11th place in Serie A after a disastrous first half to their campaign.
Massimiliano Allegri has confirmed he will leave his role as coach at the end of the season, but Balotelli has no intention of following him out the door.
The striker was a crucial figure in Italy's run to the UEFA Euro 2012 final, scoring three goals, including a memorable double against Germany at the semi-final stage.
And as he eyes another crucial close-season on the international front at the FIFA World Cup in Brazil, Balotelli is eager to keep his club life as settled as possible.
"I am staying at Milan," he is quoted by Chi.
"I have to get ready for the World Cup and stay calm."
Balotelli has scored 11 goals in 24 appearances for club and country this season, but has only managed six in Milan's ill-fated league campaign.
