City do not have an experienced right-back after releasing out-of-contract duo Pablo Zabaleta and Bacary Sagna.
Guardiola has been linked with Tottenham's Kyle Walker but is understood to be considering whether to bid for 34-year-old Alves, who played for Juve in their Champions League final loss to Real Madrid on 3 June.
It is thought Juve want £5m for Alves.
Guardiola knows Alves well having brought the Brazil international to Barcelona from Sevilla for £23m in 2008.
The pair won three La Liga titles, two Spanish Cups and two Champions Leagues together before Guardiola left the Nou Camp in 2012.
Manchester City boss Pep Guardiola could turn to Juventus' Dani Alves to strengthen his full-back options.