The Eastlands outfit had been heavily linked with a bid for the Uruguay international, who is reported to have a £54m release clause in the contract the forward signed last August.
But Mancini was sacked by City following a disappointing end to the season which saw them finish 12 points behind Manchester United in the Premier League and lose to Wigan Athletic in the FA Cup final.
And although the former Inter Milan boss is unaware whether the club’s new manager Manuel Pellegrini wants to sign Cavani, the Italian feels the striker, who scored 28 Serie A goals last season, would be a good fit at City.
“When I was at City I often spoke about Cavani with the management because he was somebody who could have been targeted,” Mancini is quoted as saying by the Manchester Evening News.
“However, I don’t know now whether he is of interest in the club’s new technical project.”
Mancini led City to the FA Cup and Premier League title during a three-and-a-half year reign at the Citizens before he left the club in May.