They are also through to the Carling Cup semi-finals, where they will face neighbours Manchester United.
Yet City's owners felt that the side were not making enough progress under Hughes following a heavy spending spree on players such as Emmanuel Adebayor, Carlos Tevez and Gareth Barry and were unlikely to meet a pre-agreed 70-point target.
But Mancini is confident he can achieve this target and turn City into a side capable of securing Champions League football this season.
And the 45-year-old wants unsettled forward Robinho to be part of City's push for success over the next two years.
Robinho had a fractious relationship with Hughes and has been frequently linked with a move to Barcelona.
Barca club president Joan Laporta has tried to play down the link but the rumours have persisted.
"Robinho is a fantastic player but, for a big player like him, it is important to make the history of a club," Mancini said.
"I played at Sampdoria for 15 years. I wrote the history. It is important. Robinho can do that here."
Manchester City have not won a League title since 1968, their second such triumph, but Mancini has a good track record of delivering success.
I think he will be a success. He has a great manner about him, is a very astute man and I'm sure he knows the Premier League well
Mancini's title with Inter in 2006 was the club's first Scudetto since 1989 and ended more than a decade of sitting in the shadow of city rivals AC Milan.
The Italian, like Hughes, will be given huge financial backing by the club's owners but while he did not say if he would add to the squad in January, he did reveal that the choice of transfers would not solely be his decision.
"In Italy, it is not just the manager who decides on players, it is also director of football," he added.
"I will speak with Garry [Cook, chief executive] and Brian [Kidd, assistant manager]. Together we will decide who we need. It is no problem. The most important thing is for City to win, now and in the future."
Mancini had a brief spell as a player at Leicester City in 2001 and his former Foxes team-mate, Robbie Savage, who is now at Derby, has no doubt he will be a success at Eastlands.
"Roberto has been given a fantastic opportunity at a fantastic football club," Savage told BBC Sport.
"I think he will be a success. He has a great manner about him, is a very astute man and I'm sure he knows the Premier League well.
"With Brian Kidd working alongside him, he has a great team."
This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.