Bellingham was included in Real's travelling party for Tuesday's fixture but boss Alvaro Arbeloa said he will not feature against City.
"Bellingham wanted to come with his team-mates to be with the team. He will continue and do part of the training, but he won't be available tomorrow," Arbeola told a news conference.
"Mbappe is already available, so you will see him. I am eager to have him on the field, to enjoy him and his goals, but also in the game, he will be a very important player."
Bellingham's absence had raised doubts about his availability for England's friendlies later this month against Uruguay and Japan.
Arbeloa said he was "very happy" to see Bellingham "getting closer" to a return and acknowledged his presence will lift Real's squad for the game.
"It will be very important for his team-mates to see him training today and tomorrow before the match, at half-time, or afterwards," he added.
"He is a player who will be one of the leaders, and he already is. It's very important that he is here with us."
Real travel to Manchester in control of the tie, having won the first leg 3-0 at the Bernabeu last Wednesday when Federico Valverde scored a first-half hat-trick.
The margin of victory could have been greater, but City goalkeeper Gianluigi Donnarumma saved Vinicius Jr's penalty early in the second half.

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