Los Blancos secured a third consecutive triumph in Europe's premier club competition when they beat Liverpool in the final last weekend, while they have now won the continent's top prize in four of the last five years.
City, by contrast, are yet to mount a serious challenge for Champions League glory, with their best performance to date coming when they were beaten in the semi-finals by Real in 2016.
Guardiola, who saw his side eliminated at the quarter-final stage this season, is now hoping his team can take a leaf out of Real's book next term and overhaul the Spanish giants as Europe's top team.
"In Europe you can have a bad time and in those situations Madrid controls them better," Guardiola told Mundo Deportivo. "When you win three Champions Leagues in a row - four in five years - you are a spectacular team.
However, Guardiola insists his search for European glory will not come at the expense of domestic dominance.
"To me personally, when at first they ask me what I want to win, I always say that the League is the most important - the Premier, the Bundesliga, the Spanish League," the 47-year-old added.