The former Galatasaray boss, who confessed to his surprise at being handed a second chance at Inter six years after leaving, insisted he was not planning on bringing the controversial Italy forward back.
The pair worked together during Mancini's previous spell at the helm and the striker followed him to Manchester City, where they won the Premier League together.
Balotelli has since moved on to Liverpool, via Milan, but has only scored two goals for the club and has yet to break his duck in the Premier League.
But Mancini believes Balotelli's future is at Anfield, with no San Siro return on the horizon.
"I think that Mario [Balotelli] is going to stay at Liverpool," said Mancini. "It is a great opportunity for him.
"He has to do his best there. He has been lucky to get back into England playing for a big club.
"He has to take this chance."
Mancini's return to Serie A was confirmed on Saturday, the 49-year-old replacing Walter Mazzarri after Inter's indifferent start to the 2014-15 campaign, which has left them ninth in the table.
