Balotelli has scored 39 goals in 61 matches since arriving in France on a free transfer in August 2016 following dismal spells at Liverpool and AC Milan.
“It’s been two amazing years thanks to everyone,” Balotelli wrote on his Instagram account. “It’s not a bye for now…you never know the future. I only wanted to say thanks already now.”
The 27-year-old is out of contract at the end of the season and has been linked with a return to Italy or England.
Balotelli’s agent, Mino Raiola, last month said the striker would be “a bargain” for potential suitors in the summer, but Nice are reluctant to lose him for nothing.
Sixth-placed Nice host Montpellier on Sunday in a match crucial to their hopes of qualifying for the Europa League, although Balotelli is expected to miss out due to illness.