Santos will assume all of the player’s contract terms, including wages and bonuses. Robinho will travel to Brazil on Sunday to begin his loan period.
Manager Roberto Mancini said: “Robinho is someone who needs to be playing regularly and we wish him well for the period of his loan.”
Robinho joined City on the final day of the transfer window of summer 2008 for a British record fee of £32.5m from Real Madrid.
He signed on the first day of Sheikh Mansour bin Zayed’s ownership and enjoyed a fine season, ending the campaign as top scorer with 15 goals, including a hat-trick against Stoke.
Robinho, who left Santos for Real Madrid in 2005, is first choice for Brazil, with whom he won the Confederations Cup last summer, but fears a lack of match action will jeopardise his place.
