The 44-year-old former Barcelona coach has been strongly linked with Barclays Premier League club Manchester City, whose interest will be piqued by the anticipated announcement from Bavaria.
On Wednesday Marca reported that Guardiola has already informed the Bundesliga champions he is ready to seek out a new opportunity, the newspaper further claiming he is prepared to reject a 20 million euro per season offer to continue at the Allianz Arena.
The Catalan has twice guided Bayern to the German title but the Champions League trophy has eluded him, with Real Madrid and then Barcelona eliminating the Bavarians in 2014 and 2015.
He took a year's sabbatical after four successful seasons leading Barca and was announced as Jupp Heynckes' summer replacement in the Bayern dugout back in January 2013.
Manuel Pellegrini remains in charge of City, but the two-time Premier League champions could be tempted to move quickly and secure Guardiola's services should he make himself available in the new year. Manchester United and Chelsea have also been linked with the former Spain midfielder.