The German club, who appointed the ex-Barcelona boss last summer, suffered a 5-0 aggregate thrashing at the hands of Real Madrid in the semi-finals.
While the 43-year-old has insisted that he will not compromise his style of football, the he admits that his future is not in his own hands.
"The club must decide if the coach is the right one for the club," the Manchester Evening News quotes Guardiola as saying. "I have my ideas as a coach and that's how my team will play. I must convince the players and coach them that way."