Iniesta is closing in on a move to the Chinese Super League and an official announcement is expected this week.
But AS report that the 33-year-old is delaying his decision because he has received offers to remain in Europe.
The report claims that Guardiola is trying to convince Iniesta to join Manchester City and the newly crowned Premier League champions are ready to make an offer.
Iniesta won 14 major trophies under Guardiola, six of which came in the 47-year-olds first season in charge at Camp Nou.
But AS also claim that Luis Enrique would make Iniesta an offer to join Arsenal if he ended up joining the Premier League this summer.
The 47-year-old is one of the favourites to replace Wenger but has also been linked with succeeding Antonio Conte at Chelsea if the Italian is sacked.
Iniesta won the quadruple under Luis Enrique at Barcelona in 2015 and still has a good relationship with his former manager.
Iniesta is also attracting interest from Paris Saint-Germain.
The midfielder signed a contract for life with Barcelona last year but the club are allowing him to decide his own future.
More: Arsenal FC