The 19-year-old is seen as the Golden Boy of Australian football and won their young player of the year award last season, which has led to some of Europe's top clubs being linked with the player dubbed the new Harry Kewell.
Melbourne City is one of the clubs which form part of Manchester City's global network so Guardiola should have first pick but, with the likes of Juventus said to be keen, as well it may not be straightforward.
Arzani himself is unsure over his future knowing that if he moved to City now his first-team chances would be very limited.
"I do not know what happens," said Arzani after his country's elimination from the World Cup. "Now I will go straight to London and meet my agent and spend a few days there trying to clear everything up.
"(There is) nothing concrete yet."
City may opt to do the same with Arzani as they did with Aaron Mooy who signed for City from Melbourne and was then loaned out to Huddersfield, and a similar path could be the way forward for Arzani.