Balotelli was undoubtedly talented, but never realised his full potential with his attitude both on and off the pitch questioned.
He won three Serie A titles with Inter Milan and the Premier League and FA Cup with Man City and also had a good record at AC Milan.
The 31-year-old had a tough spell at Liverpool and has struggled to stay with a club for more than a season of late, and is currently at Adana Demirspor in the Turkish Super Lig.
And the Italian forward believes he had the ability to join Ronaldo and Messi and become a modern great, winning at least one Ballon d'Or.
In a conversation with Nedum Onuoha for The Athletic, the ex-Man City defender recalled a conversation at the club's training base where Balotelli claimed he was just as good as the two superstars.
"I missed some chances to be at that level," he said of that conversation. "But I am 100 per cent sure that my quality is the same level as these people, but I… I missed some chances, you know? It happens.
"And nowadays, I cannot say I'm as good as Ronaldo, because Ronaldo won how many golden balls (Ballons d'Or)? Five? You cannot compare yourself to Messi and Ronaldo, nobody can. But if we're talking about only quality, football quality, I have nothing to be jealous of them, to be honest."
Balotelli spent two-and-a-half eventful seasons at City, and provided a famous assist for Sergio Aguero when City won the title in 2011 but moved on in 2013 to AC Milan.
"I think that was my biggest mistake, to leave City," Balotelli admitted. "Even in the year when I left, I played very well in Milan for a year and a half, but after that, I had some problems. And now that I'm older, I know that I shouldn't have left City at that time.
"All these years seeing City improving, improving and improving. I could have been here like Sergio Aguero for a long time.
"If I had my mindset now," he laughs, "when I was at City, probably one golden ball (Ballon d'Or) I could have won, I'm sure about this. But you know, when you grow up, you mature more, so…"