The Croatian striker has been linked with a move away from the Allianz Arena ever since the Bavarians confirmed that Robert Lewandowski will be arriving in the summer
The Croatia international was axed from the Bavarians' squad for last weekend's Bundesliga meeting with Borussia Monchengladbach for a perceived lack of effort in training.
It has been speculated that Mandzukic has been upset by the decision to recruit Borussia Dortmund striker Robert Lewandowski for next season and is now actively seeking a move away, but Elber does not see it that way.
"When you play for Bayern, one knows that each season new players come in," the Brazilian said. "I, personally, do not think he wants to go just because someone else is coming.
"He's a great player. Mandzukic just needs one chance and the ball is in the net."
Elber admitted, though, that the striker's role is in danger of becoming redundant at Bayern under Guardiola, given the former Barcelona boss' fondness for a 'false nine'.
"The way that Bayern play, you don't need a centre-forward," the now-retired 41-year-old mused. "Midfielders have so much more freedom."