Mancini has offered Adebayor few opportunities since taking charge at Eastlands, and he was allowed to join Real Madrid in the 2010-2011 campaign before joining Spurs on a season-long loan in the summer.
He has hit 13 goals for Spurs so far but, asked whether there could be a place for him at City, Mancini said: "At this moment no, because we have four strikers and it's impossible for this."
Harry Redknapp has made clear that he would like Adebayor to stay at White Hart Lane on a permanent basis but, while Mancini would be happy to let him leave, there are other clubs waiting in the wings.
"Adebayor is playing well and I am happy for him," Mancini said. "He's a good guy and a good player and I am happy. If at the end of the season he wants to stay at Tottenham, they will buy him, or another team will. There are a lot of teams that want Manu."
Spurs have the option to sign Adebayor this summer but may be unable to meet his wage demands.