Balotelli flew out to Milan again this week to continue rehabilitation and told journalists "it will take six to eight weeks."
This is longer than originally thought after his knee ligament surgery and rules Balotelli out of a series of international games.
"I do miss Balotelli. I have the desire and the intention to use a strike force made up of players with great quality," said Azzurri boss Prandelli.
"Mario presented himself very well to the Nazionale and now I can only wish him a speedy recovery from his injury."