Tevez has since completed a move to Milan's rivals Juventus, but Balotelli has insisted that his club need to strengthen their attack with someone of the Argentinian's ability.
The 22-year-old told Sportmediaset: "We are strong, but to compete at a European level, we need reinforcements. I would like us to sign Ibrahimovic.
"I'm not afraid of Juve; I respect all clubs but fear none. Tevez is a friend - I told him to come to Milan, however, he did not listen and went to Juve."
Balotelli has scored 12 goals in 13 appearances since joining Milan from Manchester City in January.