The Reds are willing to listen to offers for the Italian striker, who failed to impress at Anfield, scoring only one in the Premier League.
According to Italian newspaper, La Repubblica, Lazio have spoken to Mino Raiola, who represents Balotelli over a season-long loan.
The Biancocelesti are keen to land the 24-year-old before their Champions League playoff ties at the end of August.
On Monday, Sampdoria president, Massimo Ferrero revealed that he had been quoted a price of €10 million euros (£7.1m) for Balotelli.
Liverpool manager Brendan Rodgers, is desperate to get rid of the player, after landing Christian Benteke from Aston Villa.
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