The former Manchester City man played under Mourinho and Inter Milan but the pair had publicised differences before Balotelli moved to the Premier League in 2010.
The 23-year-old told the Sunday Mirror: “Of course I would like to play under Jose again. In my first days at Inter we had some problems, but then it turned into a mutual respect, and now we have a real friendship.”
Mourinho recently expressed his desire to find a new, long-term striker as he builds a Chelsea squad for the next decade.
Therefore, with Balotelli’s AC Milan currently languishing 11th in Serie A and facing the possibility of no continental competition next term, the 23-year-old could be a target for Chelsea in the summer transfer window.
Balotelli added: “It is never boring playing under Jose. When you are in Mourinho’s team it is a family and he coaches on the principal that if all is well with the family it doesn’t matter what is going on outside the team.”