Guardiola enjoyed huge success with Xavi at the Nou Camp, and the report claims he's keen to bring Koke, dubbed the 'new Xavi', to the Allianz Arena.
At this stage Bayern Munich are only 'considering' a move for the Manchester United and Arsenal target, although any interest from the German giants would severely hurt David Moyes or Arsene Wenger's chances of landing the 21-year-old.
Moyes is expected to strengthen his squad in the January transfer window, and Koke was believed to be a main target for the defending Premier League champions.
He has a £16m release clause in his Atletico Madrid contract, although the Spanish side are desperate to warn off interest.
Atletico have been excellent in La Liga and the Champions League, and Koke has been a key part of that success so far.
United's central midfielders have been underwhelming this season, with Tom Cleverley and Anderson in particular struggling to match expectations at Old Trafford.
The report suggests Guardiola is unsure about Koke's £16m valuation, which could allow United or Arsenal to seal the deal if they make it clear they're willing to match the fee.