The Manchester City striker has been targeted by bigots previously during his career, and says he will turn his back on the upcoming tournament if he experiences any such abuse during it.
Ukrainian and Polish fans are notorious for their racist chants, and Balotelli says he will not tolerate it while on duty with Italy at this summer’s finals.
“Let’s see what happens at the Euros,” he said. “I hope it will pass without a problem. I really couldn’t deal with that.
“I will not accept it at all. If it should happen again, I will leave the pitch immediately and I will go back home.
“It’s 2012 and it is unacceptable.”
Italy play all three of their group games in Poland, and will play in Ukraine if they advance to the knockout stages.
Balotelli kept calm when he was subjected to monkey chants by Porto fans during a Europa League game for City last season.
However, he admits he almost lost it when he had bananas thrown at him in a bar in Rome in 2009 and says he would KILL anyone who tried to repeat that stunt.
“There were two or three boys, and it was lucky that the police arrived quickly because, I swear, I would have beaten them,” he told France Football.
“I would have really destroyed them. I hope it will not happen again because if someone throws a banana at me in the street, I will go to jail, because I will kill them.”
Balotelli was racially abused by Juventus fans in 2009 when he was with Inter Milan and says opposition supporters feel they can rattle him by picking on the colour of his skin.
“Sometimes when you are strong as a player, people have to find other ways to make you angry,” he said. “They think the only way to hurt you is to provoke you.”