The Blues showed character and steely nerves to secure a 4-3 triumph in a tense penalty shoot-out after the sides had been goalless over 120 minutes of normal and extra time.
It meant the Blues retained the trophy we secured last season and the City manager was full of credit for the way his players stood up to the challenge against a committed and determined Chelsea team.
“I’m happy. It went to penalties, so compliment to Chelsea it was incredible performance,” declared Pep.
“The important thing with penalties is personality, and they did it.
“In penalties, everything can happen. We are happy to win back-to-back (cups) for the first time in our history.
"Raheem has the confidence to take penalties – he said ‘I’m going to take it, I’m going to shoot the last goal’ – and he did it so good! I appreciated the guys who have the courage to step forward and say ‘I want to take one’ because of the pressure, but Raheem seems to like this kind of pressure. It was nice.
“You realise the team Chelsea have, they have champions. After the result two weeks ago (our 6-0 Premier League win at the Etihad), we knew it would be more difficult.”
“The only bad thing is that we will miss players in the next weeks,” Guardiola added.
"We had extra time, lost two important players who will be out for a while and now those guys can help us and they will help us.
"But this is normal a lot of games and this sort of thing happens. Look at United today – they lost three players in the first half so it’s not just exclusive to us.
"There are too many games, sometimes the pitches are not good, the ball is not perfect, and, in the end, people fall down. I am impressed how they can play so many games and not get injured but sometimes it just catches up with you.
"In other countries they have less games, fewer competitions but now we have to face Schalke with important players missing.
"But I trust our squad and the guys who maybe didn’t play too much are going to step forward and help us.
"In the last action of the first half, Laporte felt something and Ferna also felt something muscular so I think they well be weeks out."
Guardiola also played down any talk of comparisons between his City squad and his time in charge at Barcelona where he enjoyed unprecedented success..
“There is no comparing. What we did in Barcelona was unique,” Guardiola added.
“New players new club and what is important after last season is to be there. We will see how far we can go.”