Six Premier Leagues, the Champions League, three FA Cups, five League Cups, the UEFA Super Cup and FIFA Club World Cup are just 17 of the 20 trophies Guardiola brought to City during his spell.
Guardiola won his third FA Cup with City on Saturday when they beat Chelsea 1-0 at Wembley and his fifth League Cup in March in what will be his final pieces of silverware for the club.
Reports state the Spaniard will depart at the end of the season and is likely to be replaced by former Chelsea boss Enzo Maresca over the next month.
Speaking to Betfair, Shearer was asked about Maresca and where Guardiola could end up after leaving City for good.
“What next for Pep Guardiola after City? A rest! I think it will be similar to what we’ve seen in the past, he might rest for a year and then come back reenergised and go again.
“I could see him managing an international team, I’m not going to say it’s less pressure, but maybe it won’t be as intense, it will be a different challenge for him.”
On Maresca taking over: “Good luck, it will be an incredibly difficult job, we’ve seen over the years how tough it is to follow a great manager, and Pep is one of the greatest.
“It might give everyone else a chance now, but I’ll be sad to see him leave because without a doubt he has been incredible for the Premier League.”
Guardiola will manage his final game in charge this weekend against Aston Villa in what will be an emotional farewell.