The Chilean has faced the former Barcelona manager when in charge of Villarreal, Malaga and Real Madrid but has yet to taste victory over the 42-year-old.
Pellegrini will be hoping for a change of fortune when the defending champion visits the Etihad Stadium, having never beaten Guardiola as manager of Villarreal, Malaga or Real Madrid while the Spaniard was in charge of Barcelona.
Both sides enjoyed comfortable 3-0 victories in their opening group D games, Bayern overcoming CSKA Moscow at home, while City got the better of Czech side Viktoria Plzen.
The two clubs were drawn in the same group two years ago, with Bayern winning 2-0 in the Allianz Arena before City triumphed by the same score on the final matchday - a result that was not enough to prevent the club's elimination.
City also failed to progress beyond the group stage in the last campaign, but the team's unbeaten record at home in Europe stretches back 20 games to the 2008-09 season.
Bayern's last fixture in England was a 2-1 win over Borussia Dortmund at Wembley in May that sealed the club's fifth European triumph, while the team's last game there against English opposition came in last year's last 16 first-leg 3-1 victory over Arsenal.
City, for which Martin Demichelis (knee) remains out injured, has had a mixed start to the Premier League season, taking 10 points from six matches, and comes into the game on the back of a shock 3-2 defeat away at Aston Villa at the weekend.
In contrast, Bayern has made a strong start to its Bundesliga campaign, dropping just two points from the opening seven fixtures - a run that sees the club sit second only to Dortmund on goal difference.
Mario Gotze, signed from rival Dortmund in the summer, has been out with an ankle injury since the UEFA Super Cup win over Chelsea in August, but was an unused substitute during Saturday's 1-0 win over Wolfsburg, so could feature in Manchester.
Thiago Alcantara (ankle) and Javi Martinez (knee) remain long-term absentees for Bayern, which is bidding to become the first side to successfully defend the title since AC Milan in 1990.