They're also likely to win the Premier League for a third time in four seasons in addition to being in the Champions League semi-finals - meaning a treble is on the cards.
Neville provided commentary for the game on Sky Sports and showered Guardiola with praise, stating: "You just have to recognise Man City's outstanding football, the outstanding achievement of winning this trophy four times on the bounce.
"Pep Guardiola has an outstanding record in cup competitions, it's 14 victories and one defeat in 15 finals, it's absolutely out of this world. The football they play is magnificent, it really is.
"I think Man City may have the greatest manager of all time and we'll look back in 10, 15, 20 years' time... just the way he has infiltrated countries, dominated football but also influenced others, I don't think I've ever seen it."
However, most of this success came in England and Guardiola has proven himself with Barcelona and Bayern Munich prior to City.
"You look at how he's won in three different countries, he's now dominating in this country - he's going to win the league title in the next few weeks, that's three in five years and these are massive achievements," the 46-year-old continued.
"Playing the way they play as well, which is with technical players, dominating possession.
"The big one is the Champions League and it's a huge couple of weeks coming up against Paris Saint-Germain because if they were to win that, then they would have a great chance.
"That would be the cherry on the icing on the top of the cake of Guardiola's reign at Man City because I don't think he can leave without winning it. It would feel incomplete if he left this country without winning the Champions League.
"I know it happened in Germany but here, Man City will give him the time to do it and it almost feels like he has to so he can say that the job is done."
Guardiola told The Guardian post-match: "The Premier League is the nicest one, the one where I am most proud when we are able to do it.
"We are 10 points clear, we need two victories, and in between the games in this crazy schedule we are going to try to win the next one against Crystal Palace."
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