The Italy international has been a reported target of the Italian champions since moving to City in 2010 from Inter Milan.
Balotelli told Italian radio station Radio Radio: "The newspapers are saying that I want to get away from Manchester but I've never spoken to them.
"They can say what they want, but I'm in Manchester, I am under contract with City and until the right time, will not talk about a new contract."
The 21-year-old striker is tied to City until June 2015 and has no intention of leaving the club in the near future.
"The Premier League has been a new experience, even if at first it was difficult," he said. "But if I have to tell the whole truth now, it's that I'm really happy here."
When asked about his relationship with City coach Roberto Mancini, Balotelli described it as "great".