Guardiola guided his side to three successive victories last month, winning 4-0 away at West Ham, 2-1 at home to Swansea and 2-0 away at Bournemouth.
City only played three Premier League games last month due to their commitments in the FA Cup and Champions League.
Guardiola beat off competition from Chelsea manager Antonio Conte, Manchester United boss Jose Mourinho, and West Brom chief Tony Pulis.
Conte’s league leaders won twice but drew once in February, while United and West Brom both won twice and drew once out of their three games each.
City are currently third in the Premier League, 10 points behind league leaders Chelsea and behind second-placed Tottenham on goal difference, with 11 games of the season remaining.