The Italian was amongst the spectators for the Bhoys' 3-0 home defeat to Juventus in the Champions League on Tuesday and was subsequently linked with a move for the Kenya international.
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"At the moment, no [I do not want to sign him]. I think he is a good player," the City boss told a press conference.
Wanyama has been linked to a host of European clubs following his move to Celtic from Belgian club Beerschot two seasons ago but Mancini feels that conclusions were drawn too quickly from his attendance of the match.
"I saw him for the first time against Juventus, I never saw him before," the 48-year-old insisted.
"But every time I go to see a game, the next day people say 'Manchester City want to buy this player'."