The Italian's position at the club had been under scrutiny after the Citizens were usurped at the top of the Premier League pile by local rivals Manchester United.
However, City have now closed the gap on the Red Devils from eight points to just three.
Mansour has now come out in defence of Mancini and declared himself "very happy" with the management of the team.
"The difference is three points and we do have a chance," Mansour told Abu Dhabi TV. "But whatever happens and even if we don't win I am very happy and satisfied with the players, the team and the management.
"They have performed very well and have improved in their last few matches."
The two title rivals clash at the Etihad Stadium on Monday.