The 36-year-old is set to be a free agent in the summer when his contract expires and has decided to return to his native Brazil to see out the remainder of his career.
Fernandinho has been a faithful servant to the Citizens since joining from Ukrainian side Shakhtar Donetsk in 2013, winning four Premier League titles, six League cups and one FA Cup.
The former Brazil international has made 373 appearances in his time at the club, scoring 25 goals.
"I don't think so," Fernandinho told a news conference previewing City's trip to Atletico Madrid in the Champions League on Wednesday when asked if he would be extending his stay in Manchester.
"I want to play regularly. I will go back to Brazil. I decided with my family, which is the most important for me."
City manager Pep Guardiola was unaware of Fernandinho's decision after he took his seat at the news conference and expressed his surprise.
"Oh! I didn't know," Guardiola said.
"You give me the news. I didn't hear it.
"We will see what happens. I don't know what will happen. He is so important. I'll ask him."
"At the end of the season we talk, maybe it's because of his family. I would love it. We will talk."
"The role he plays this season - I like the people who behave behind the scenes.
"I know what he has done, behind me, he handles many of our players and stars for the benefit of the team.
"I praise him and he was here when I arrive. Raheem (Sterling), Kevin (De Bruyne), John (Stones), a few players.
"We know him well, from day one to now always here.
"An incredible player for Man City. There are things nobody knows but I know exactly."
