The Premier League title chase is in City's hands after leaders Liverpool lost to second-placed Chelsea last weekend.
Although Pellegrini's men sit third, three points behind Liverpool, they boast a game in hand on the top two and a significantly superior goal difference, meaning victories in their three remaining games would likely be enough to seal the trophy.
City have won on just one of their last 15 trips to Everton, but Pellegrini is hopeful his side can put that dismal run behind them on Saturday.
"I think the past is the past," he said. "We are in the present. I hope we can win it.
"I think that Everton at any stage of the season will be a very difficult team.
"Roberto (Martinez, the Everton manager) is doing a very good job, the same way he did before at Wigan.
"We are sure that we are going to have a very tough game there."
Pellegrini is not interested in debating whether or not City should be considered favourites to win the league.
"In football you never know, so the important thing for us is to think about what we can do and the only thing we can do is to try and win our games," he added.
"When you depend on what you can do it's better for all the players. The motivation is very high."
