Junior Kroupi's 39th-minute curling strike put City behind, and while Erling Haaland equalised in the 95th minute to reduce Arsenal's lead to four points, a draw was never going to be enough. Manchester City needed a win to take the race to the final day. They did not get it.
Guardiola offered his congratulations without hesitation.
"Congratulations to Arsenal, Mikel Arteta and his backroom staff and fans for this Premier League — it's well deserved."
He then reflected on a season he described as one of the most demanding of his entire managerial career, pointing to injuries, schedule congestion and circumstances outside the club's control as factors that made this campaign uniquely difficult.
"At the same time, during my managerial career it was one of the years where we fought the most with incredible things that we could not control. We were always there and never gave up."
Guardiola acknowledged the physical disadvantage City faced at Bournemouth, with the Cherries having been given an extra week's preparation time and playing for Champions League qualification.
"Today the fatigue was there. They had 12 days to prepare that game and they played for qualification for the Champions League with an extraordinary team and are incredibly well managed. We missed that pace and the situation required against teams like Bournemouth. They are 17 games unbeaten and that's because they are a really good side."
He spoke about what the season has taught him and what City must improve upon if they are to reclaim the title.
"We learned a lot this season about what we have to do to win. We have to win a lot of points, we have to have an advantage, otherwise there are circumstances you cannot control. We played many, many moments with difficulty and never gave up. That is why we are here."
Guardiola is expected to formally confirm his departure to chairman Khaldoon Al Mubarak before Sunday's final match against Aston Villa — his farewell at the Etihad after ten years in charge.