Balotelli produced arguably his best performance for City in last weekend's derby demolition of Manchester United with two goals at Old Trafford.
The controversial forward has endured a turbulent time at City since arriving from Inter Milan in the summer of 2010, but he believes City fans are now seeing the real him.
"I'm happy, I train good and I feel good and that's how it should be always," Balotelli told the Mail on Sunday.
"I'm getting better all the time. The real Mario is coming now and it isn't the same Mario as last year.
"I think I did OK before my injury, but this year is going to be better, I hope."
Balotelli puts his improved form down to the influence of Mancini who also worked with the Italian international during his time in charge of Inter Milan.
"With Mancini I feel very comfortable. I've known him a long time and he's a good manager," added Balotelli.
"He believes in me - even when no one in England believed in me, he did. And he kept on believing in me. I want to do something important here with him."
Balotelli has also won praise from England coach Fabio Capello with the Italian feeling the 21-year-old has matured.
"He is a player of immense class," noted Capello. "He can make a great player and has the desire on the pitch and in training. He is not the person he was a while ago.
"He accepts decisions and he has put himself out to work for the team."