The Italian later tweeted to deny the text of the post was offensive.
The FA confirmed it was looking into the post, while Liverpool said they will speak to Balotelli.
A club spokesman told BBC Sport: “We are aware of the posting which has since been promptly deleted by the player.
“We will be speaking to the player about the issue.”
Responding to criticism on Twitter, Balotelli tweeted “My Mom is Jewish so all of you shut up please.”
He also described reposting the image as “my unlucky moment”.
However, former FA executive and current chief executive of the Jewish Leadership Council Simon Johnson said Balotelli should face action.
“We abhor all forms of racism, wherever it is found,” Johnson told the Daily Telegraph.
“We call upon the FA to investigate this offensive social media post and to take action if appropriate if we are to succeed in kicking racism out of football.”
Under the FA’s social media guidelines, the minimum ban for race-related breaches of rules is five games.
In September, Merseyside Police investigated racist remarks made to Balotelli on Twitter after he posted a message during Man U’s 5-3 defeat against Leicester City.
A Freelance Journalist, Entrepreneur and Philanthropist. Editor-in-Chief of www.233times.com. A contributory writer for Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. He holds first degree in Bachelor of Arts from the University of Ghana; Political Science (major) and History (minor). He has also pursued MSc Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) at the Robert Gordon University in the United Kingdom. His mentors are Rupert Murdoch, Warren Buffet, Sam Jonah, Kwaku Sakyi Addo and Piers Morganview all posts by: Nana Kwesi Coomson
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