The 18-year-old scored in last night's 7-0 win over Schalke, his sixth across all competitions this season.
Foden has struggled for playing time at City, but Guardiola does not want him to leave.
"The people say he doesn't play too much. He is 18 years old and he has played a lot of minutes," he said.
"The people say he should be on loan; Phil Foden will not be on loan. All the time he is here he will be close to me because he is an incredibly talented player.
"He is with us. Congratulations [to him], because the minutes he played he did really well."