The 19-year-old grew up in Italy but is of Ghanaian decent and would be eligible for a call-up from Rajevac because he has never played for the Azzurri at full international level.
"After the World Cup draw I'll go to Europe. I have a series of meetings planned with my players in the European (domestic) championship and my intention is to speak with Balotelli," Rajevac told Wednesday's La Gazzetta dello Sport.
"The idea is to go to Bologna to meet our captain Stephen Appiah and get him to accompany me to Milan to meet Mario and (Sulley) Muntari.
"I'm happy with the strikers I have but Balotelli has exceptional qualities. Who wouldn't want someone like that? He's young, he plays in a big team and he's very, very good."
Balotelli turned down the chance to play for Ghana in a friendly against Senegal in 2007.
The teenager is at the centre of a storm over racism in Serie A ahead of this weekend's match between Inter and Juventus, after repeatedly being the victim of racist and offensive chants, especially from Juve fans.
Inter bosses have played down speculation linking the forward to Premier League club Arsenal after coach Jose Mourinho criticised his attitude on a number of occasions recently.
'People will remember us because we got to No.1 in the world rankings and achieved great things - but our biggest regret is that we didn’t win anything': Ex-Everton star Kevin Mirallas opens up on 'honour' of being part of nation's golden generation
‘I’m sure we’d have finished in the top four or five if he hadn’t joined Chelsea in January. Him leaving damaged the team, but we couldn’t stand in his way’: Alan Curbishley reflects on failed Champions League dream after selling key player
