The Spaniard does not necessarily believe his side should be favourites to conquer Europe despite being the current holders of the trophy
The Spanish coach, who won the competition on two occasions during his time at Barcelona, is expected to continue bringing success to Bayern following the club's treble-winning 2012-13 season.
However, Guardiola is remaining cautious over the possibility of his side becoming the first club to retain the Champions League in its modern format.
"It's to early to talk about defending the title," the 42-year-old told a press conference.
Bayern kick off their European campaign against CSKA Moscow at the Allianz Arena on Tuesday and Guardiola is confident his side are in the right frame of mind going into the game, having seen off Hannover 2-0 on Saturday.
He said: "We know that they're one of the best teams in the world. We aren't nervous, however.
"I'm confident with how we played in the recent games. I think we are well prepared for the match."