Goal understands that the Shakhtar Donetsk midfielder has been identified by Guardiola as a potential summer recruit, as he seeks to find a replacement for Fernandinho and deepen a position in which Yaya Toure, who will be a free agent in the summer, also currently operates.
Fred has also been linked with Arsenal, with reports suggesting that he is valued at £30 million by his Ukrainian employers.
However, it appears that the 24-year-old is desperate to join the Premier League champions-elect, who currently lead the English top-flight by 15 points.
"For sure, I would grow a lot with him," he told Globoesporte. "I have a lot of room to grow.
"I have not received (his call) yet, I'm just eagerly waiting. He'll call me soon!"
Fred has made 24 appearances in all competitions this season, and played 90 minutes as Shakhtar became the first - and as yet only - team to beat City in 2017-18 in the Champions League.