According to transfer expert Fabrizio Romano, the 55-year-old was approached by the Italian Football Federation but decided this week not to accept the role.
Instead, Guardiola wants to spend more time with his family and recharge after a remarkable 10-year spell in charge of Manchester City.
During his time at the Premier League club, the Spaniard won 20 major trophies, including six Premier League titles and the UEFA Champions League, cementing his place as one of the most successful managers in the club's history.
Guardiola's decision is another setback for Italy as the federation continues its search for a new head coach.
Carlo Ancelotti is also not expected to take the job, with the experienced Italian reportedly committed to remaining in charge of Brazil through the 2028 Copa America and the 2030 FIFA World Cup.
With Guardiola and Ancelotti both out of the running, Italy is now believed to be considering several other candidates. Former Azzurri bosses Antonio Conte and Roberto Mancini are among the leading names, while World Cup-winning midfielder Andrea Pirlo has also emerged as a possible option.
The Italian Football Federation must now turn its attention to those alternatives as it looks to appoint the manager who will lead the national team into its next chapter.
Spain head coach Luis de la Fuente has strongly criticised the behaviour of several Argentina players and members of the coaching staff following the 2026 FIFA World Cup final.
Newcastle United have completed the signing of midfielder Aladji Bamba from French club AS Monaco on a five-year contract, the Premier League club confirmed on Friday.
Jurgen Klopp has been confirmed as Germany's new head coach, signing a contract that will keep him in charge until 2030 as the German Football Association looks to restore the national team's place among the world's best.
Xavi Simons has admitted he now appreciates the simple things in life after the serious knee injury that ruled him out of the 2026 FIFA World Cup.
