Mr Floyd died last Monday after a white police officer held him down by pressing a knee into his neck and sports stars have joined in the widespread condemnation.
And Brescia forward Balotelli, who formerly played for both Manchester City and Liverpool, has joined the likes of Manchester United stars Paul Pogba and Marcus Rashford in making a stand against racism.
The 29-year-old posted a photograph of him performing the Black Power salute to his Instagram, along with the caption: “#saynotoracism #blackpower #restinpeacebrother #GEORGEFLOYD.”
He also shared a picture of him playing for the Italy national team, with the caption: “I have nothing against monkeys because I'm totally sure a monkey is smarter than a racist.”
Several stars from the world of sport have sent anti-racism messages as protests following Mr Floyd's death have taken place over the past week.
On Monday, England striker Rashford and his Manchester United team-mate Pogba posted messages, while a number of Liverpool players - including captain Jordan Henderson and Virgil van Dijk, tweeted messages alongside an image of the squad taking a knee on the centre circle at Anfield.