The Premier League champions confirmed the signing of the highly-rated 18-year-old in January of this year for an initial £12.5m, which could rise to as much as £21.7m with performance-related add-ons.
Echeverri was immediately loaned back to River Plate to continue his development in his native Argentina and it was agreed that the midfielder would remain at his boyhood club until the end of 2024.
A recent report claims that Man City have decided to bring the teenager to the Etihad Stadium in January and integrate him into Pep Guardiola's first-team squad.
It is thought that Echeverri could make his senior debut for the Citizens before the end of the current campaign if he impresses Guardiola in training.
Man City have no plans to let Echeverri leave temporarily again, and journalist Fabrizio Romano claims that the club have already 'rejecting approaches' from several clubs, including River Plate, who are keen to extend his stay in South America.
Man City plan to integrate Echeverri into first-team squad
Romano adds that Echeverri is already considered part of Man City's long-term project from 2025 onwards.
Man City could arguably do with Echeverri is their squad at this present moment, considering the injury crisis Guardiola is dealing with.
Indeed, as many as nine first-team players could miss Saturday's Premier League clash at Bournemouth, with Rodri, Oscar Bobb, Kevin De Bruyne, Jeremy Doku, Jack Grealish, Savinho, Manuel Akanji and Josko Gvardiol all nursing injuries.
Echeverri, who has signed a contract at Man City until 2028, has become one of Argentina's brightest young prospects since making his senior debut at River Plate, where he has chipped in with four goals and five assists in 42 appearances.
The teenager rose to prominence in his homeland during last year's Under-17 South American Championship, recording five goals and three assists in eight matches for Argentina.
Echeverri will soon be following a similar path to Julian Alvarez - now at Atletico Madrid - who also swapped River Plate for Man City in January 2022, spending an initial six months on loan with the Argentine side before linking up with the Citizens for the 2022-23 campaign and enjoying a two-year spell at the Etihad.