In this work we give an estimate of the neutrino flux that can be expected from the microquasar Cyg X-3. We calculate the muon neutrino flux expected here on Earth as well as the corresponding number of neutrino events in the IceCube telescope based on the so-called hypersoft X-ray state of Cyg~X-3. If the average emission from Cyg~X-3 over a period of 5 yr were as high as during the used X-ray state, a total of 0.8 events should be observed by the full IceCube telescope. We also show that this conclusion holds by a factor of a few when we consider the other measured X-ray states. Using the correlation of AGILE data on the flaring episodes in 2009 June and July to the hypersoft X-ray state we calculate that the upper limits on the neutrino flux given by IceCube are starting to constrain the hadronic models, which have been introduced to interpret the high-energy emission detected by AGILE.