I'm a pianist. (yes, really)
I can practise the piano as I would practise Tennis. (no preposition needed)
The piano is the skill I am practising. Just as I could study the piano if I were a full time music student.
I would usually say I practise on the piano if I am trying out a new composition or arrangement. "I am practising my new tune on the piano." ( To distinguish from practising it on the guitar.)
(Equally I would say I am playing the piano- not I am playing on the piano.)