The prolific Norway striker, who has scored 111 goals in 126 appearances for City, has committed himself to the reigning Premier League champions until 2034, it was announced on Friday.
It is a deal of unprecedented length in the English game and City manager Guardiola, who recently agreed his own two-year extension, thought he had misheard when told the details by director of football Txiki Begiristain.
Dear defenders 🖋� — Manchester City (@ManCity) pic.twitter.com/bra8MZEhq6January 17, 2025
"I said, 'Can you repeat?' And he said to me 10 years. I said, 'Sure?' and he said, 'Yes'. So, good news. That means a lot," explained Guardiola at a news conference on Friday.
Haaland, who joined City from Borussia Dortmund in 2022, will be 34 if he sees the new contract through. His previous deal was due to expire in 2027.
The announcement, which will see Haaland paid a reported £500,000 ($A980,000) per week, is a boost for the club amid a frustrating season in which they have fallen off the pace in the title race.
It also comes at a time of uncertainty as City await a verdict following an independent commission hearing into more than 100 charges related to alleged breaches of the Premier League's financial regulations, which the club have always strenuously denied.
Guardiola said: "It's proof of confidence and trust for the club, it's the trust for the club to Erling, because you never know what can happen in the next years."
Haaland scored 52 goals in his first season at City as the club won the treble of Champions League, Premier League and FA Cup. He followed up with a further 38 last term as the title was retained and has netted 21 despite City's troubles this season.
His future has often been the subject of speculation, but now he is pleased to have put that to an end, insisting he will remain "no matter what".
"I am really happy to have signed my new contract and to be able to look forward to spending even more time at this great club," said Haaland, whose father Alf-Inge represented City in the early 2000s.
"Manchester City is a special club, full of fantastic people with amazing supporters, and it's the type of environment that helps bring the best out of everybody.
"I also want to thank Pep, his coaching staff, my teammates and everyone at the club as they have all helped me so much in the past couple of years.
"They have made this such a special place to be and now I am City no matter what."
It is shaping up to be a busy month for City, with the club also closing in on three notable signings.
It's understood a fee has been agreed with Eintracht Frankfurt for forward Omar Marmoush, while deals for defenders Abdukodir Khusanov and Vitor Reis, of Lens and Palmeiras respectively, are progressing.
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