The 55-year-old manager will end his 10-year stay at the Premier League club after Sunday's (24.05.26) curtain closer against Aston Villa at the Etihad Stadium.
In a lengthy statement, he began: “When I arrived, my first interview was with Noel Gallagher. I walked out thinking, ‘Okay… Noel is here? This will be fun'.
“And what a time we have had together. Don’t ask me the reasons I’m leaving. There is no reason, but deep inside, I know it’s my time.
"Nothing is eternal, if it was, I would be here. Eternal will be the feeling, the people, the memories, the love I have for my Manchester City."
He paid tribute to the city of Manchester itself, and its "strength" and "togetherness" in the wake of the 2017 Manchester Arena bombing.
He also pointed to the support from the fans, particularly during difficult moments in his personal life.
Pep continued: “Players don’t forget - every single instant, moment, me, my staff, this club, everything. What we have done, we have done it for all of you. And you have been just exceptional.
"You don’t know it yet, but you are leaving a legacy.
“So as my time comes to an end, be happy. Oasis are back again.
“Ladies and gentlemen, thank you for trusting me. Thank you for pushing me. Thank you for loving me.
“Tony Walsh said in his unforgettable poem this is the place. I’m sorry, Tony: this is my place.
“Noel… I was right. It has been so f****** fun. Love you all.”
Since joining in February 2016, Pep has led City to 15 major trophies, including six Premier League titles, and an iconic treble in the 2022/23 season.
In the club's statement confirming his departure, City noted that he will now become a Global Ambassador for the City Football Group.
They added: "The role will see him giving technical advice to the clubs in the group, working on specific projects and collaborations."
Manchester City Chairman Khaldoon Al Mubarak added: “Over the last ten years honesty and trust have formed the bedrock on which we have navigated every situation together with Pep – always understanding that we could find the right answer together.
"Today the right answer is for Pep to finish his journey as the Manager of Manchester City.
“There have been points along the way when he could have stopped, and it would have been enough. Somehow, Pep always found new energy and pushed on, finding different and innovative ways to continue winning and delivering success.
“As a result, the Club has a decade of memories and success to be forever grateful for, and much more than that, an evolution that cannot be undone."
Meanwhile, the club's CEO Ferran Soriano described working alongside Pep as a "privilege".
They said: “As we celebrate the past, we are also very happy to know that Pep will stay with the Group and we will be able use his knowledge and experience in so many of our other clubs to help managers and players.
“We will forever be grateful to Pep and cherish so many unforgettable memories. He is a City legend… forever.”
Pep's departure was confirmed just before City's rivals Manchester United announced Michael Carrick has signed a contract keeping him as head coach until at least 2028.
