Ibrahimovic allegedly said that the two parties would work well together as they were both average.
However, his agent has denied that the interview in which the Swede is alleged to have said this even happened.
"This is a total invention by those looking to spread false news," Mino Raiola told Sky Sports News.
"Zlatan has never spoken to any Spanish site and has never said these things about Barcelona or Balotelli.
"He believes Mario is among the best forwards in the world and has the potential to be the very best."
Ibrahimovic and Balotelli are former teammates, having both had spells at Inter Milan.