Free-scoring City allowed Andre Villas-Boas' side plenty of possession but was ruthless on the counterattack and converted six of the 10 efforts the team had on goal.
Jesus Navas netted twice, with the prolific Sergio Aguero also bagging a double, while Alvaro Negredo also scored and Sandro put into his own net as City took its tally to 26 goals in the team's last six home matches.
Delighted City boss Pellegrini admitted he could not ask for any more from his side.
"It is impossible to play better than we did today," he told reporters after the comprehensive victory. "Except for 15 minutes in the first half when Tottenham had possession of the ball and were defending well.
"After that I think we finished the first half very well and the second was incredible. We have very good strikers but it's the whole team not just Aguero and Negredo."
The win moved City back to within six points of league leader Arsenal and ahead of Southampton in fourth thanks to the club's impressive goal difference.