Balotelli sealed his £16m move from AC Milan on Monday but the transfer was not completed in time for him to feature against former club Manchester City later in the evening.
However, the Italy striker is now available for selection to face Tottenham on Sunday after he was forced to watch the 3-1 defeat at the Etihad Stadium from the stands.
Manager Rodgers told the club's official website: "I think by the weekend [he'll be ready to feature].
"He's been into pre-season and he's played three 45-minute games. He might not be up to full match speed, but he's looking fit.
"We've done some analysis on him. The medical and sports science team have worked with him already and he's in very, very good condition.
"He's in to work and he'll be available for the squad for the weekend."
You can watch Tottenham v Liverpool on Sky Sports 1 on Sunday at 1.30pm
Strange days, Mario is a crazy, despite the abuse that he has handled for years since he was 18. Meanwhile Wayne Rooney is announced as England captain and no one complains. fashy - Those guys wouldn't get anywhere near him. I hope that is the Tottenham tactic, if so, you will get destroyed. godzilla - I don't think he likes getting sent off, more that people have made such a fuss about him that he's become a marked man. He's going to do the business. The fact that a 16 million player is getting so much attention, when Liverpool bought 3 others who cost more than him, makes me think that it is a good signing and i bet that Markovic and Lallana, in particular, are delighted that he is there. It will give them more space on the pitch and it will take the glare away from them for a good 3 or 4 months.- Gab1965