Balotelli gave Milan a flying start and Kaka, making his 300th appearance for the Rossoneri, doubled their lead before the break. The Brazilian added a stunning third before leaving the field to a standing ovation. Only Milan's wastefulness prevented them from winning even more convincingly, while Cyril Thereau did the visitors no favours by hitting a late penalty against the bar.
The win lifted Milan to eighth place, six points behind the top five ahead of Sunday's matches.
Earlier on Saturday, Davide Ballardini's position as Bologna coach was left hanging in the balance after a 2-0 defeat at home to Atlanta left them in serious relegation danger.
Two quick-fire first-half goals from Giuseppe De Luca and Marcelo Estigarribia earned Stefano Colantuono's men all three points to take them to within two points of the top five and keep their hopes alive of qualifying for Europe next season.
Bologna, meanwhile, could slip into the bottom three on Sunday with rumours growing that Stefano Pioli will be back on their bench for the trip to Inter Milan next weekend.