In the wake of a 4-2 Super Cup defeat to Borussia Dortmund at the weekend, it had been speculated that Bayern were in the market for a new defender, with Brazilian Luiz reportedly topping the list.
However, speaking at the presentation of the Audi Cup preseason tournament in Munich, Guardiola rejected the speculation.
"He's not coming to Munich," he said. "We've got four or five central defenders. There is no truth to the speculation."
With Javi Martinez expected to feature more at the heart of the Bayern defense following the arrival of fellow Spanish midfielder Thiago Alcantara from Barcelona, Guardiola has enough cover at the back.
Jerome Boateng and Daniel van Buyten both started against Dortmund, but Dante and Martinez are tipped to form the preferred defensive partnership in the continued absence of Holger Badstuber, who could miss the entire season with a knee injury.
David Luiz also played down reports that he could be set for a summer switch to Barcelona.
The Brazil international, who usually operates at center back but was deployed in midfield at times by former Blues boss Rafa Benitez, was previously a target for the La Liga side. Luiz, who was one of the star performers as the Blues secured third place in the Premier League and Europa League glory, admits he admires Barca's style of play, but is in the dark over the latest speculation.
The former Benfica man was quoted as saying in the Daily Star: "My objective is to be happy and this is possible playing always in a team that controls the ball. Barcelona is the team that has developed the best football in the last few years. I know Barca were interested in my services in the past but now I do not have any news."