On 8 July 2014, Caballero signed a three-year deal with Manchester City, for a fee believed to be in the region of £6 million excluding add-ons. He reunited at his new club with former Málaga manager Manuel Pellegrini, and his competitive debut came on 10 August in the 2014 FA Community Shield, playing the full 90 minutes in a 0–3 loss to Arsenal at Wembley Stadium; a week later, in the Premier League opener, he was an unused substitute at Newcastle United.