At one point on Tuesday night, Barcelona led 2-1 on aggregate through Sergio Busquets and Andres Iniesta, as well as having a man advantage after John Terry was sent off for Chelsea. However, it wasn't to be as Ramires and Fernando Torres scored in either half to send the Blues through to the final.
The Spanish outfit dominated much of the possession as Chelsea were forced to defend for most of the game, but Guardiola believes that it just wasn't meant to be for his side.
"The first thing I feel is huge sadness," said Guardiola.
"I think we played exceptionally well. We have done everything we possibly could to reach the final. Finals are great but we'll have to watch this one on TV.
"We have played well recently but it wasn't enough. Sometimes football is like this. This year it was not our turn. This year it seems like we could couldn't win."
Barcelona now turn their attention to La Liga as they travel to Rayo Vallecano on Sunday with a slim chance of retaining their title.