The 21-year-old Italy international was shown a second yellow card for a mistimed tackle on Bacary Sagna after Mikel Arteta had scored a late winner to hand Arsenal a 1-0 victory over City at The Emirates on Sunday.
Balotelli was fortunate not to receive a straight red for an ugly challenge on Alex Song in the first half before he tangled with Sagna on three occasions after the interval.
Mancini has finally lost patience with the £25m forward who he signed from Internazionale in 2010 after Balotelli received the fourth red card of his short City career.
“Probably – but I don’t know [if Balotelli will be sold],” said Mancini. “I am finished. We have six games and he will not play in the next six games.
“I think that Mario should have been sent off after 10 minutes.
“Balotelli is a fantastic player, I can continue to play with Mario on the pitch but every time we’ll risk having him sent off.
“He needs to change his behaviour if he wants to improve his life. I’ve seen players finished in two or three years with huge talent. He needs to change. He must change it. I hope for him he will.
“He’s not a bad guy. He’s a fantastic player. But, at this moment, I’m very sorry for him because he continues to lose his talent, his quality.
“I hope, for him, he can understand that he’s in a bad way for his future, and he can change his behaviour in the future.”
MORE: Man United latest news
MORE: Arsenal latest news
MORE: Chelsea latest news
MORE: Liverpool latest news