The Azzurri were put to the sword 4-0 by a Spanish masterclass, whilst Balotelli remained largely ineffective during a one-sided game.
The Manchester City forward stormed straight down the tunnel at the final whistle, brushing off the attempts of Italian officials to keep him on the pitch, before later returning to collect his runners-up medal.
Despite the act of petulance from the at-times troubled striker, Prandelli feels that Balotelli will learn that losing is a part of the game.
“I told Mario that these are experiences you have to deal with and have to accept,” the Italy tactician told reporters after the game, translated to English by Sky Sports.
“You have to hold your hands up and say the opponents were better, accept defeat.
“But you also have to make sure this helps you going forward and you can grow from the experience.
“This has happened to a number of players, and will happen again, but this is what sport is all about,” he admitted.
Prandelli went on to praise the efforts of his team, but feels that Spain’s extra recuperation time could have played a part in the result.
“You could tell right away that they were fresher physically. We didn’t have time to recuperate, especially against players like these. It became very, very difficult indeed to come back from 2-0 down.
“We came up against a terrific side. They’re world champions. Obviously, when you go down to 10 men, the game’s over.
“Anyway, it has been a sensational tournament and I pay my compliments to my players.
“We must grow and arrive at these important competitions with the right space during and after the Italian championship,” he concluded.
By Gareth McKnight