The 27-year-old was assaulted in his home on Thursday
The defender was assaulted during a burglary at his home on Thursday and shared a picture showing he had sustained a cut above his right eye.
But it is understood the Portugal international will travel with his teammates to the Emirates Stadium for Saturday’s fixture.
Cancelo, who was with his family when the incident took place, wrote on Instagram on Thursday: “Unfortunately today I was assaulted by four cowards who hurt me and tried to hurt my family.
“The most important thing for me is my family and luckily they are all OK.”
A club statement added: “We are shocked and appalled that Joao Cancelo and his family were subjected to a burglary at their home this evening during which Joao was also assaulted.
“Joao and his family are being supported by the club and he is helping the police with their enquiries as they investigate this very serious matter.”
Cancelo joined City from Juventus in August 2019 and has made exactly 100 appearances for the club, scoring seven goals.
The 27-year-old full-back has played a key role so far this campaign for the Premier League leaders.