The City manager has been linked with a return to crisis club Bayern Munich.
But Guardiola's management agency said in a statement to Sky Deutschland: "Pep has FC Bayern in his heart, but he does not want to leave Manchester City this summer.
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"He is very happy and has a contract until 2025. Returning to FC Bayern is not an option."
Bayern are seeking a new coach with Thomas Tuchel stepping down at the end of the season.