According to Daily Mail, Guardiola is ready to sign the 36-year-old experienced right-back if Danilo eventually leaves Man City this summer.
The newspaper is reporting that Danilo is set to leave Etihad this summer after receiving interests from Serie A giants: Inter Milan and Juventus.
Guardiola signed Alves from Sevilla in 2008 during his time at Barcelona.
The duo won 14 trophies together at the Camp Nou including two UEFA Champions League and three La Liga league titles in four seasons.
Alves is currently on a free agent after he left Paris Saints-Germain last month.
The former Juventus star considered joining Man City in 2017, before opting to join PSG.
Speaking recently on his desire to reunite with Guardiola in the Premier League, Alves said: “I don’t hide my admiration for Pep and my will to play in the Premier League in the future.”