But he remains baffled why he wasn't given the gong last season when City matched Chelsea's title triumph.
Pellegrini said: "I can't explain it so I don't think about it too much. I don't think my opinion is very important.
"I wasn't chosen as the best manager but I was very happy about what I did last season because we won two titles and we won them playing beautiful football and scoring lots of goals.
"I don't know how the decision can be, but if they choose another manager that is the choice. Before me Roberto Mancini also won the title but he wasn't manager of the year.
"This isn't my opinion it is fact. I'm not saying there is a conspiracy. Other people must analyse why this has happened."