Baloncieri was the captain of the Italy national football team that won the bronze medal at the 1928 Olympic Games and the winner of the 1930 Coppa Internazioanle. He earned 47 caps (with 25 goals) for Italy between 1920 and 1930. He also played in two other Olympics, 1920 and 1924, making him the 2nd Most All-Time player with Appearances in the Olympic football tournament.