Barca are willing to do a swap deal with Inter for the Italy U21 star by offering unsettled midfielder Yaya Toure in exchange.
Balotelli has fallen out publicly with Inter coach Mario Mourinho and could see a move to the Nou Camp as the fresh start he needs.
Meanwhile, Toure's agent lambasted Barca management last week and admits his client could be on the move for January.
"If Barça don't want Yaya any more, then we will find another of the biggest clubs in the world," said agent Dimitri Seluk.
"I understand that there can be rotation in a top squad, but how is it possible that the same player keeps getting left out?
"Why has Keita played 10 games already and Yaya only managed five?"