In June 2021, Belotti was included in Italy's squad for UEFA Euro 2020 by manager Roberto Mancini. On 6 July, following a 1–1 draw after extra-time against Spain in the semi-final of the competition, Belotti scored Italy's second spot-kick in an eventual 4–2 penalty shoot-out victory, to send Italy to the final. On 11 July, Belotti won the European Championship with Italy following a 3–2 penalty shoot-out victory over England at Wembley Stadium in the final, after a 1–1 draw in extra-time; Belotti came on as a substitute late in the second half of regulation time for Lorenzo Insigne, and in the shoot-out, he took Italy's second penalty, which was saved by Jordan Pickford.