City sit third in the Premier League under Manuel Pellegrini, reached the League Cup final on Tuesday with a 9-0 aggregate thrashing of West Ham, and remain in contention for both the UEFA Champions League and FA Cup.
The recent form of Pellegrini's men has been nothing short of outstanding, with City recording 16 wins in an 18-match unbeaten run across all competitions, passing 100 goals for the season in record time in the process.
Yet Mancini, who was relieved of his duties at the end of last season, is keen to take a share of the credit, pointing out that he signed many of the players who are currently serving the Etihad Stadium outfit so well.
"I'm happy that Manchester City is one of the best teams in England because I built this team," Mancini told the BBC.
"The players that score the goals are players that I bought - Sergio Aguero, Edin Dzeko, Yaya Toure, David Silva and Samir Nasri."
Mancini, now the coach of Galatasaray, reportedly fell out with several members of the City squad prior to his departure in May.
However, he holds no bitterness towards the club and says he is happy to see the club back on the right track.
"When you work, you know you can have some problem with the players," the Italian added. "This is normal because the manager wants the players to work hard, play well and the players should understand this.
"When you change the manager, it is better maybe, because you change the way to work."
Mancini is adamant City have not changed markedly since he was at the helm.
"I think Pellegrini is doing a good job but what is happening now at Manchester City, we did three years ago. It's the same," he said.
"I'm very happy about what I did in Manchester. I love the Manchester City supporters and I had a fantastic experience.
"After four or five years, maybe the manager needs to change team. I did my job; I built a fantastic team; we played fantastic football and we didn't win (the Premier League) last year only because Manchester United bought Robin van Persie.
"He was the difference, if not I think that would have changed the history in Manchester over the last three years. We played really good football and now they are continuing to do this."
