The Brazil international was part of Guardiolas record-breaking Barcelona team and spent a total of eight years at Camp Nou, before eventually leaving Catalonia for Juventus in 2016.
After an unpleasant year in Turin, it appeared to be nailed on that Alves would reunite with Guardiola at Manchester City, but the 36-year-old has explained that he turned down the chance to move to the Premier League as he was offered a more exciting proposition by Paris Saint-Germain.
"I had spent a somewhat unpleasant year in Italy, in Turin. I felt cheated since I didnt get what I had been promised. And thats the worst feeling there is," Alves told ESPN. "I felt that they failed me, and I left Juventus.
"Then, I thought about my personal well-being, my familys. Thats why I didnt go to City. Pep knows about how much I appreciate him and that Id be willing to work with him again.
"However, at that moment I wasnt really thinking about a reunion with him, I was thinking about what I needed in order to be happy and the new challenges I had ahead of me.
"All my challenges with Guardiola were solved and Paris represented a more exciting proposition. The relationship between us is very positive."
Alves was referencing the time where he clashed with Guardiola whilst they were working together at Barcelona.
Despite admitting that the two did have a scuffle in Catalonia, Alves insists that the pair have sorted out their differences and are still on good terms to this day.
"There was only a moment in which we had our disagreements, but we talked it out. There was a bit of a scuffle, but we were able to fix it one week later," he added.
"For me, thats the big virtue Pep Guardiola has. He makes decisions holding his heart in his hand, but hes able to make the best decisions, and thats what I like about him, even if it hurts you.
"Hes a perfectionist. Sometimes, he tries to take a step back in order not to fail. In our last year, we didnt feel Pep was that way anymore since he is a f*****g genius."