Balotelli was left out of last weekend's 1-0 win over Udinese as a precaution, with the Azzurri striker still struggling with a persistent thigh injury.
Allegri has revealed that the forward is showing signs of recovery in training ahead of a final check on his fitness due later today.
He told reporters at his pre-match press conference: "Balotelli is doing better. We'll check on his condition in training today and we'll see if he can be called up.
"But football is a team game, if you don't play as a team then you lose. The physical condition of the side is improving. We all have to work in the same direction."
The Rossoneri have taken four points from their first two matches in this season's Champions League.