Having finished trophyless in his first season in Manchester, Guardiola will be hoping to mark his second season in England with silverware.
With success in both the Premier League and Champions League paramount for his side, City will need a strong squad next term with many of their big rivals set to spend big in the window too.
Here, we look at three acquisitions that would be most welcome to Pep’s first-team make-up.
Will any of these deals happen?
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VALUE: £40 MILLION
Benjamin Mendy has emerged as one of Manchester City’s main signings this summer as Guardiola steps up his plans to sign two new full-backs, with Tottenham Hotspur’s Kyle Walker expected to be the other target.
The highly-rated Frenchman, who can play on either the left or right side of defence, was a star in Monaco’s run to the Champions League semi-final and Ligue 1 title conquest.
The 23-year-old is contracted to the French Riviera side until 2021 but has reportedly made it clear he wants to play in England.
With Bacary Sagna, Gael Glichy and Pablo Zabaleta released by the Blues this summer, the prospect of Mendy lining out at the Etihad Stadium is certainly not dead yet.
VALUE: £60 MILLION
The Juventus star has established himself as one of Europe’s finest defenders and has attracted serious interest from both City and Chelsea.
With uncertainty over the future of Nicolas Otamendi, Guardiola needs a major overhaul in central defence – an area which caused City problems last term.
Indeed, with John Stones still very much learning on the job at the heart of the backline and add to that Vincent Kompany’s constant injury problems, Bonucci’s leadership qualities would make him a fearsome addition.
The Italian international has made it clear in the past that he is happy at the Old Lady – where he is under contract until 2021 – but a move to the Premier League and the prospect of working under Guardiola would be difficult to turn down.
Although almost 30, Bonucci has plenty of years ahead of him at the top level.
VALUE: £50 MILLION
The prolific Chilean striker was the key man for Arsenal this season but, having stalled on a new contract, he looks set to leave as there is no Champions League football at the Emirates in 2017/18.
The Gunners have reportedly offered a new contract in excess of £300,000 per week, but the 28-year-old looks set for a move away from north London with Bayern Munich, PSG and City among the leading candidates to secure his signature.
Sanchez scored 24 goals and provided 10 assists in 36 Premier League games last term and was the standout performer in their FA Cup triumph.
Imagine the prospect of Sanchez lining up alongside Sergio Aguero in attack next season.