The Catalan coach says he is not looking to sign the Germany international as he already has eight forwards available to him at the Allianz Arena ahead of the 2014-15 season.
The Bavarians have signed Mario Gotze and Robert Lewandowski from their Bundesliga rival in successive summers and are now being heavily linked with the 25-year-old attacker.
However, Guardiola feels that he has more than enough forward options as it stands - despite complaining of his players' fitness on Tuesday.
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"We already have eight strikers," the Catalan coach pointed out at a press conference.
"I do not need new players. I am pleased with this squad."
Bayern, which won a domestic double last term, begins its 2014-15 campaign at on Wednesday with a DFL-Supercup clash with Dortmund at Signal Iduna Park.
BVB, which won the curtain-raiser last term, finished as runner-up to Bayern in both the DFB-Pokal and the Bundesliga last time out.