The Ivorian has been unable to shake off the muscle injury he suffered in the win over Stoke on Saturday.
Toure is the only player registered who will be missing as City prepare for an historic night at the Etihad Stadium and Pellegrini has handed his backing to Brazilian duo Fernando and Fernandinho to continue their excellent recent form.
“Yaya is going to be out, I think. He hasn’t recovered from the muscle injury,” he told journalists.
“Tomorrow the two players not on the squad list are Nasri, who is not registered, and Yaya who is injured.
“Whenever the Brazilian boys have played together they’ve played some big games - against PSG and against Roma when we knocked them out.”
The Chilean also emphasised the importance of keeping 11 men on the field against the ten-time European Champions.
Pellegrini asserted that the main lesson learned in this Champions League campaign is to play with “a hot heart and a cold mind” and, although this is the first time City have reached the last four, he doesn’t want to stop there.
“It’s very important to enjoy the semi-final as it’s not an achievement we do every year,” he reflected.
“The players know that. It’s important not to be comfortable because we’re at this stage. Everyone wants to continue, to play the final. Tomorrow we’ll see a team that will play to win.
“It’s important to reach this final as it reflects the work we are doing for three years. The way you win a title is very important. We won’t just try to defend to reach the final. I have always tried to have a team who play good football, play well.
“The way we do it is just as important.
“We need a hot heart and a cold mind - against Barcelona we played with one player less both times. It’s very difficult with ten players. We need our emotions under control tomorrow.”
Vincent Kompany was also facing the continental media and handed a boost to supporters, declaring himself 100% fit.
The Belgian also delivered a rousing message to supporters, highlighting their role as potentially decisive at the Etihad on Tuesday night.
“I’m 100% fit - everything went well and, as always, unfortunately when you’re injured you have to work a lot harder than the rest and that’s what I did,” he declared.
“We play against one of the greatest clubs of all-time. Our support tomorrow will be able to make the difference. If they turn up, I’ve never seen a City team not perform when the fans turn up.
“Otherwise, what’s the point of buying a ticket? That’s what we need from them.”
Kompany also touched upon the latest calf injury which saw him miss just over a month of action.
He added; “People talk about my injuries, I talk about my comebacks. People mention 14 injuries to my calf, I talk about 14 times I come back.
“It takes a lot of character to do that, to be able to come back and play at this level I will focus on the positives and that’s me coming back and doing the right things.
“I will only blame myself if it’s for a lack of effort which has never been the case.”