The 23-year-old has been strongly linked with a move to link up with his former boss Jose Mourinho at Chelsea.
Galliani expects Balotelli to remain at AC Milan for a long time.
“Mario Balotelli will not leave Milan,” Galliani told reporters.
“He will stay with us for many years, and he is our star. He has a long contract and he will see it out.”
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Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.
Newcastle United are staring down the barrel of relegation to the Championship for the second time in the past eight years.