Balotelli has signed a one-year contract with the option for a further year.
The 33-year-old recently left Switzerland side FC Sion after just a year at the club.
Balotelli scored six goals in 18 league games last season but Sion got relegated to the second tier.
That has compelled Sion to cut ties with the much travelled striker, whose former clubs include Inter Milan, AC Milan, Manchester City, Liverpool, OGC Nice, Olympique Marseille among others.
As usual, Balotelli did not leave Sion on good terms as his time at the club was characterised by attitudinal problems.
Addressing Balotelli’s exit, club president Christian Constantin told Le Nouvel Liste: “Everything was resolved in a very courteous manner with Mario. The document that we prepared is now in the hands of our lawyers who must complete it.
"Rather than talking about money issues, I would have preferred him to score the goals we hoped for. That said, it’s time to move on.”
Balotelli's previous stint at Adana brought 18 goals in 31 league matches in the 2021/2022 season.
