The 22-year-old midfielder, who has made 161 league appearances for the Gunners, has long been linked with a big-money move to his former club, who - along with AC Milan - have reportedly been weighing up a significant offer for the Spanish international.
However, Guardiola has since revealed that he does not believe the Gunners will be willing to part company with their captain, having already sold both Kolo Toure and Emmanuel Adebayor to Manchester City.
"Cesc will not come. I believe it will not be possible this season," he said in The Observer.
"He is an important player for Arsenal and they have already sold Kolo and Adebayor."
Fabregas hit the ground running in the Emirates Stadium outfit's 6-1 rout of Everton on the opening weekend of the new Premier League season, scoring twice and assisting two other goals at Goodison Park on Saturday.
And Guardiola hinted that although the Spaniard will stay in England for the 2009/10 campaign, the Catalans may renew their interest in his services in 12 month's time.
"He is a very interesting footballer, but now he will play another year in England," he said.
NEWS: Fabregas father: Cesc super commited to Arsenal
