Phillips, 29, has barely featured for Man City since his £50 million move from boyhood club Leeds United back in 2022.
The central midfielder spent last season on loan with Ipswich Town before returning to Man City over the summer.
He has since made a shock return to the first team, coming off the bench for the final seven minutes of City’s 2-0 League Cup win over Huddersfield Town.
Guardiola has now quashed any hope of a potential revival for Phillips, telling the press Phillips is unlikely to feature for their clash with Swansea City on Wednesday (October 29).
"For a start no but maybe he will travel with us,” he said.
“He is a player for the team, the squad. He is coming back, he trains with us, we treat him like another player. The decision of whether he plays or not belongs to me.
“He is always an unbelievable guy. It is a joy to have him in the locker room."