City are set to face Tottenham in the quarter-finals after hammering Bundesliga side Schalke 10-2 on aggregate in a one-sided last-16 tie.
Expectations are high that Guardiola, who twice guided Barcelona to Europe's top prize, will lead the Premier League champions into the final four for the first time since taking charge in 2016.
But the City boss is at pains not to place overdue emphasis on the need to turn domestic dominance into continental glory.
"We won a lot in the past and that's why people believe that is normal, but that is not normal," Guardiola said.
"My standards are not thinking 'we are Manchester City, we have to win everything. We have to win the final and if not it will be a disaster'.
"It will be a disaster when you don't do what you have to do, [which is to] put in absolutely everything to try it.
"When you are in the position that we are right now, I don't have many complaints. I'm pretty sure our fans know it.
"When I spoke with my chairman, CEO, sporting director, the people here working know and they give credit for what we have done in the last two seasons. At the end, that is the most important thing.
"After that, everyone can judge if it's a disaster. If we do not win the Champions League, our work for three seasons, every three days, is a failure or a disaster.
"I completely do not agree but what can I say? Accept it and move on."