The Spanish head coach was first questioned on whether playing Real Madrid at this stage diminishes the importance of the tie.
"The draw is the draw and we accept the challenge.”
Next, Guardiola was asked if Real Madrid set the standard in the Champions League.
"Definitely. There are few clubs in Europe with a history like this (Real's).
"We have not done, let's say, 'quite well' in the group stage, so we deserve to be where we are.
He then moved on to the relationship between the two clubs who have met multiple times in recent years and was questioned on if he thinks it is a great rivalry.
"I don’t think so (overall in history). In the last years, yes.
"We had good results and bad results.
"Yeah maybe, it's not normal to play the same rival so many times, but in history Madrid, Bayern Munich...
The last decade we have been around, but in the history of the Champions League there have been many (rivalries)."
The Man City boss was also asked if there would be hard feelings for Rodri after Madrid refused to attend the Ballon d'Or ceremony after it was leaked that Vinicius Jr. would not win the award.
"No, absolutely not. Happy for Rodri. Vinicius Jr had an extraordinary year (too).
"Like in the past, Messi and Cristiano (Ronaldo) were fighting for it – the subject is over."
Guardiola was next questioned on the prospect on playing the second leg at the infamous Bernabéu Stadium.
"We play the second game away because we were not good enough in the group stage. We didn't deserve it (to qualify directly into the last 16).
He added: "The team, our team, has something special and hopefully tomorrow we can prove it."
He was then asked if his side feel more like underdogs this time against Real Madrid.
"I don't know. I think both teams have had problems in terms of injuries during the season. I think Madrid handle it much better than us because they are still top of the league and fighting against Atletico Madrid. That shows again the consistency they have.
"At the end they are a huge competitor. We know it. We have faced many times with them and how in the tough moments they bring the best of them - we know it. Of course we have to make two good games to go through."
Guardiola did not appreciate a question on whether he feels he is currently fighting for his job.
"No," he said.
"I don’t know if a doctor will be asked about his position like this.
"I am here because of what I have won in previous seasons. I don’t think I am going to be thrown out onto the street."
Finally, he opened up on how highly he rates Real Madrid's forward players.
"It's impossible in 90/120/200 minutes to control these players. They are exceptional - how they combine, the runners, the ability one against one, how they keep the ball, all four are exceptional. Everybody knows it, so you have to reduce that involvement as much as possible, knowing that it's going to happen, accept it."