He will be seen sharing the ground with his compatriots Matias Defederico and Gaston Sangoy.
The 21-year-old full back is known as a versatile player due to his previous strong performances. Cardozo made his league debut during the 2013-14 season and scored the first goal against Quilmes.
Despite his young age, he has already played for top teams in Argentina and Bolivia. He was part of the Argentine Under-17 World Cup squad in 2011. With more than 40 league performances Cardozo has won the Argentine Super Cup, in the 2013-14 season.
Speaking on the appointment, Cardozo said, "I am very excited to be part of this club. I have spoken to the coach and am really happy to be part of his vision. I cannot wait to join the team and play for the fans of Mumbai."
Cardozo has been signed on loan from his Argentinian parent Club Atletico Velez Sarsfield.
Sharing his thoughts on the new recruit, Indranil Das Blah, the chief executive officer of Mumbai City FC said, "Facundo is a highly rated young defender. His accolades at the youth level speak a lot about the quality of the player, and we are really excited to have him join the team."