City claimed domestic success last season after lifting the Premier League trophy back in May, but surprisingly crashed out at the group stages of Europe’s elite competition.
The Citizens have the chance to make amends this season, but have been grouped alongside the reigning champions of Spain, Germany and Holland.
Mancini admits that qualifying for the knockout stages will be difficult, but believes City are capable of competing on the grandest of stages.
"I don't need to learn," he said of the record that has seen him secure just one quarter-final appearance in the Champions League during his time with Lazio, Inter Milan and City.
"The football is the same. It is still 11 against 11. The problem is that it is always against the best teams from other countries and every game is difficult.
"I hope I can improve my record in the Champions League. I think the time will come when we can win it, but we are in a difficult group.
"My ambition is to win it, but we have another five games and we want to go into the second stage. It will be difficult.
"This is only the second year we are playing in the Champions League and we have had a hard group.
"We are as good a team as Manchester United and Arsenal. Look how we improved in the Premier League.
"I think we need time to improve in the Champions League, but we do not have time; we have only five games and we cannot concede goals like we did against Real Madrid. If we want to go through, we have to improve quickly."
