The Italy striker arrived at the club from Manchester City in the January transfer window and has immediately settled into Serie A life by scoring three goals in two games.
However, the 22-year-old will not be able to turn out for the Rossoneri for their mouth-watering Champions League last 16 clash against Barcelona next week, having already featured for Manchester City in the competition.
But Allegri feels the main objective for Balotelli is to help the San Siro giants try and qualify for the competition next season as they look to improve on their fifth position in the standings.
"I am satisfied with what Mario is giving us on the pitch. But, he has the possibility of becoming a world class player - if he devotes himself to football," Allegri told a press conference.
"I hope he takes my advice.
"I have never had any doubts that I'll be here next season. I have an agreement with the president and (CEO, Adriano) Galliani - this team has been rebuilt in a short space of time so we have to carry on with this project as it is."
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