The nine-minute film, the latest in a series titled Lend Me Your Ears, shows the photojournalist behind a desk and apparently reading from a script.
This followed the pattern of most of the previous videos featuring Mr Cantlie.
The 43-year-old was seized in late 2012 and the Foreign Office says it is "analysing" the latest footage.
Since August, IS has posted videos online showing the deaths of two British and two US hostages.
In the new video, Mr Cantlie, dressed in an orange jumpsuit, said he accepted "long ago" that his fate is "overwhelmingly likely" to be the same as his "cellmates".
He referred to the policy of the UK and US of not negotiating the release of hostages through means such as ransom payments.
He also claimed there was a rescue attempt by US forces in July but it failed because the hostages had been moved to a different location.
There is no indication as to when the video was filmed, although Mr Cantlie does refer to the death of British aid worker David Haines, which happened in September.
A Foreign Office spokesman said: "We are aware of a further video and are analysing its contents."
Mr Cantlie has been held captive in Syria twice. He was kidnapped first in July 2012, but escaped with help from the Free Syrian Army.
He was then kidnapped for a second time when he returned to Syria towards the end of 2012.
Last month, Mr Cantlie's father Paul, 80, died from complications following pneumonia. It came two weeks after he recorded a video message from his hospital bed urging his son's release. Mr Cantlie's sister, Jessica, had earlier appealed for "direct contact" with the militants.
A new video featuring John Cantlie, the Briton held in Syria by the Islamic State militant group, has been issued.