Balotelli broke the deadlock when he rose to power home Antonio Cassano's 20th-minute cross.
His second was a belter, striding clear of the Germany defence to collect Riccardo Montolivo's superb through ball before blasting an unstoppable shot past Manuel Neuer.
It took Balotelli to three goals for the tournament and he is now favourite to win the coveted Golden Boot prize.
Cities & Stadiums
The Top 3 Teams of Previous Tournaments
|2008||Spain||Germany||Russia / Turkey|
|2004||Greece||Portugal||Netherlands / Czech Republic|
|2000||France||Italy||Netherlands / Portugal|
|1996||Germany||Czech Republic||France / England|
|1992||Denmark||Germany||Netherlands / Sweden|
|1988||Netherlands||Soviet Union||Italy / West Germany|
|1984||France||Spain||Denmark / Portugal|
|1972||West Germany||Soviet Union||Belgium|