The 21-year-old made his debut for the Azzurri against the United States in February and was part of Cesare Prandelli's squad for Euro 2012.
However, the former Chelsea man has struggled to find the net since his £10.5m switch to Anfield and has been omitted from the squad to face Armenia and Denmark.
Despite that disappointment, Borini said that he is looking forward to helping the Under-21 team reach the 2013 European Championships.
"I'm happy to be here," Football Italia quotes Borini as saying.
"It's great to be given another opportunity to reach an U21 European Championship.
"I don't view my inclusion in this squad as a rejection or as second best, it is an incentive for me to return to the 'big' team."
Borini's only goal for the Reds came in the Europa League tie against FC Gomel.