The 20-year-old Portuguese midfielder had spent last season on loan in France with Lille.
Lopes was aged 17 years and nine days when he scored on his City debut in a League Cup game at Watford but that was the first of only five appearances, none in the league, after joining from Benfica in 2011.
He has represented Portugal at every level from Under-16 to Under-21 despite being born in Brazil.
Leaders City hope to break a 103-year club record at home to Watford on Saturday by claiming their 10th league victory in succession.
They will be without striker Wilfried Bony, who was injured in training this week, manager Manuel Pellegrini told a news conference.
"It is a difficult game because they have played three games in the Premier League and have drawn them all," said Pellegrini.
"They have good players and the greatest mistake we can make in this moment is to think because we have won the last three games we will win the next one."
Pellegrini said he had "no information" on City's widely predicted signing of Belgium midfielder Kevin De Bruyne from German club VfL Wolfsburg.
(Reporting by Steve Tongue; Editing by Tony Jimenez)
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