The pair are good friends and former Barcelona teammates, with Cruyff having just taken the post at Ajax this season.
Now Dutch football journalist Mike Verweij, of De Telegraaf, is reporting Cruyff would love to bring Guardiola to Amsterdam this summer.
"It would be a dream come true for Ajax fans. In Cruyff's documentary, Guardiola says he owes Cruyff everything. Maybe this is a nice way to repay the Cruyff family," Verweij said on the podcast Kick-off.
"Guardiola will simply have to choose between clubs, including those that offer him 20 million euros a year. That kind of salary does not exist in Amsterdam.
"Jordi will no doubt try to connect with Guardiola. The chance of it succeeding... It's not likely to happen, but Cruyff will definitely give it his all."
Guardiola, with less than 18 months to run on his City deal, has told club chiefs he won't make a decision about next season until June, at the earliest.