He sits in ninth in the drivers' championship, ten points behind team-mate George Russell in what is his last season with the Brackley-based squad before heading to Ferrari in 2025.
Mercedes have an upgraded package in Imola, and had been expecting to close the gap to McLaren, Ferrari and Red Bull, who have all also brought upgrades to the track.
Hamilton's Mercedes misery continues
However, Hamilton could only qualify in eighth on Saturday, once again beaten by Russell despite having a positive day on Friday with two strong practice sessions.
Despite this, Hamilton still appears to be enjoying his time in Imola, but once again spoke about the issues he has with his inconsistent Mercedes car.
"It's been a harder day than yesterday but I still enjoyed it," the seven-time champion told Sky Sports. "I love qualifying. Saturday is always a fun day but it's been a struggle on Saturdays for me.
"If the balance is like that, I don't know [how the race will go].
"Our car is on a knife edge. We are making the smallest changes from session to session, trying not to do the big changes we have done in the past.
"It felt really good yesterday, the upgrades felt great on track. For us in general, coming into today, it felt like a lack of rear end then when we got into qualifying the rear was a lot more loose than it was in previous sessions.
"All you can do is try and combat it when you are out there.
"But the rear temperatures end up getting hotter through the lap, so the car was sliding more and once you get to the last corner, the car feels a lot different."