The AC Milan man missed Italy's 2-2 draw against Denmark on Friday due to temperature and stomach problems.
Balotelli, 23, jogged during training on Saturday and Italy are keeping him with the squad despite having already qualified for the 2014 World Cup.
They face Armenia in Naples on Tuesday and Italy team doctor Enrico Castellacci said Balotelli could still play.
"The player will stay with us," Castellacci said.
"It's impossible right now to say what his chances are of playing on Tuesday.
"It is encouraging that he returned to training after five days out, but he is debilitated by gastroenteritis. We will evaluate his condition day by day."
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