Pellegrini lifted the Premier League trophy at the first time of asking last season as City dramatically overhauled Liverpool to prevail by two points.
But the Chilean still feels bound by expectation and is predicting another red-hot race for top-flight glory.
Speaking ahead of City's International Champions Cup clash with Liverpool, he said: "I don't think we have the pressure off.
"All the other teams are bringing in important players and we'll have another very tough Premier League season. The pressure will continue for all the big teams.
"During the year, not only Liverpool will be our rivals - also Chelsea, Manchester United, Arsenal and Tottenham. There are a lot of very strong teams that can win the Premier League."
Watch Liverpool take on Manchester City in the International Champions Cup in the early hours of Thursday - kick off is just after midnight, live on Sky Sports 1.