The 22-year-old has earned comparisons with Giggs thanks to his impressive wing play this term, contributing nine goals and 12 assists to the Citizens' Premier League title success.
City boss Guardiola believes that Giggs is a good benchmark for Sane, who the Catalan acknowledges needs to replicate this season's showing over a number of years to be in the same category.
"It's too early," he told reporters. "They are left, quick, for full-backs it's not easy to face them. But Ryan is a legend in world football, not just in Manchester United, England, Wales.
"Leroy has a good target to try to emulate Ryan Giggs. The most important thing for Leroy is consistency during the games. One guy or two guys can play good for a short period, but he's been good during a long period - excellent.
"His consistency was the most valuable thing. His quality speaks for itself. With Leroy and [Raheem] Sterling you have a feeling. The most exciting part as a manager is that he has a gap. He has space to be a better player.
"It depends on them - especially Leroy and Raz. They can be better with the basics - understand the game. Both of them have huge potential. We cannot forget they are only 21 and 22."
Sane has emerged as a rumoured summer transfer target for European champions Real Madrid.