The 31-year-old is City’s record goalscorer with 244 since joining the club in 2011, but his contract expires at the end of next season and he has not indicated if he will stay beyond then.
Aguero has previously spoken of his desire to end his career back in his native Argentina.
Guardiola said: “I don’t know. He can stay but it depends on his physical condition and desire. I haven’t spoken with him and I don’t know his intentions.
“Like with Vinny [Kompany], who wanted to be here and then went to Belgium, like David Silva – sometimes you have to take a decision – but in most of the cases the players decide.
“I would like Sergio to decide whether he wants more or it is over.”