The Argentine has not featured for the Premier League leaders since reputedly refusing to come off the bench against Bayern Munich in September, and has been widely linked with a move to San Siro since.
The Italian champions have submitted an loan offer to Manchester City, but Mancini has echoed the club’s view that they will only listen to permanent transfer offers for the forward.
“Tevez would be a great leap for Milan, he is a striker who makes the difference,” Mancini told La Gazzetta dello Sport.
“AC Milan know what the conditions are. You cannot give away a player like Tevez for free.”
Meanwhile, Mancini has also confirmed that Roma midfielder Daniele De Rossi is a potential transfer target as the speculation surrounding the Italy international’s future continues.
The midfielder’s contract expires at the end of the season, which has led to suggestions that the 28-year-old could be on his way to the Premier League, a possibly which the City boss is happy to entertain.
“He is a champion and would be the perfect man to improve City,” Mancini declared.
“If we get the right signals, it is right that we try for him.”
The former Inter coach also voiced his regret that the club sold Daniel Sturridge to Chelsea in July 2009, before the Italian arrived at the Etihad Stadium, with the Englishman having netted nine league goals for the west Londoners so far this season.
“It hurts to know that he came through City’s academy. It was a big mistake to lose him,” Mancini reflected.
Finally, the 47-year-old went on to to express his joy over his good relationship with the Etihad Stadium faithful.
“I confess one thing: I like hearing City fans singing my name to the tune of ‘Volare’,” he admitted.
City currently sit atop the Premier League, ahead of local rivals Manchester United on goal difference.