Barca's board will meet on Monday when they're expected to sack coach Quique Setien after Friday's disastrous Champions League thrashing by Bayern Munich.
While former Tottenham boss Mauricio Pochettino is regarded as favourite for the post, TMW says a return for Guardiola is also under consideration.
With City bounced out of the Champions League by Lyon yesterday, the Catalan has come under intense criticism for his tactics on the night.
And encouraging for Barca is that Guardiola is well inside the final year of his City deal.
For the moment, the City manager is under no threat of dismissal, though Barca could make an approach in the coming days.