The 21-year-old Italian, who drives a Bentley, was in collision with another vehicle in Medlock Street, near Deansgate in Manchester city centre.
Although Balotelli was unscathed, a passenger from one of the cars was taken to hospital.
In a statement, Greater Manchester Police said: “Shortly after 3.15pm on Thursday 5 April 2012, police were called to Medlock Street, Manchester city centre to reports of a collision between two cars.
“The passenger of one of the cars was taken to hospital for precautionary measures. Inquiries are ongoing.”