The Blues' boss believes his squad is stronger now than it was this time last season while he also expects more of his key players to pledge their long-term futures to the club
City held their nerve in the final weeks of last season, winning their final five matches to overtake Liverpool at the summit and clinch glory with a 2-0 win over West Ham on the final day.
Pellegrini has been busy in the transfer market, with Bacary Sagna, Frank Lampard, Fernando, Willy Caballero, Eliaquim Mangala and Bruno Zuculini all arriving to boost the club's ranks.
And after being unable to defend their 2011-12 title under Roberto Mancini, Pellegrini believes City are in a better position this time around.
"I think we have a stronger squad than last year," he told reporters.
"We had a very successful year last year but that is history.
"This Premier League will be exactly the same as the last one. Five or six teams have very strong squads."
The Etihad Stadium outfit have also been busy in securing the future of a number of their stars in recent weeks, and Pellegrini has not ruled out further big names committing themselves to the club in the coming weeks.
Vincent Kompany, David Silva and Sergio Aguero have all signed long-term deals at the club as City look to instil some long-term stability.
"I think it is very important for the club to retain the best players," Pellegrini admitted.
"I think it is also important for the club that they want to stay here because they are working very well and this is a club that has a lot of ambition for the future.
"They understand that, and maybe you will know in the next few days about other players who extend their contracts."