City failed to mount a sustained Premier League title challenge and saw their campaign in the Champions League ended at the last-16 stage. He has offers from clubs in England, Spain and Italy.
After the final whistle, Zabaleta reflected on his best memories of being at City.
He also named Yaya Toure, David Silva, Joe Hart and Vincent Kompany as a "big pleasure to play with", with all four arriving at City in 2010 or earlier and helped build the club.
"When I first came to Manchester I felt like when I was in Barcelona at Espanyol - we were not the main club in the city", he said. "I wish all the best for this football club".
Keep up to date with ALL the Manchester City news, gossip, transfers and goals on our club page plus fixtures, results and live match commentary.
"I said many times I have this expectation because of what I have done in the past". Pablo is a lovely guy off the field and I've always got on great with him, while on the field he's so fearless.
He's such a committed player and always gives 100-per-cent to the cause - just look at how many stitches he's had in various wounds over the past nine years.More news: FDA issues Boxed Warning for canagliflozin
More news: Watch Hillary Clinton Practice Ducking 'Unwanted Trump Hug' During Debate Prep
More news: No fruit juice for kids under 1, pediatricians advise
When taking over at City last summer, Guardiola said he was under no illusions regarding how hard English football might be. I'm out. If it is Barcelona and Bayern, you don't win and you are out.
"I can not decide here because there are still a few more days to enjoy here as a Manchester City player".
"As a player I've done what every single player should do for the club they play for, which is try to perform well on the field every time, give my all for the team, for the club and this is something that fans really appreciate from players".
"Hopefully all the fans can come to support us - we are playing for a lot of important things - more than ever, and to express gratitude for one of the most important players in the history of Manchester City". "You never realise how tough those moments are when you have to say goodbye to everyone", he added.
Zabaleta has won five trophies during his time at the club, including two league titles and the FA Cup.
"The team, the players, the manager need to be in the Champions League, in the greatest competition in the world next season". In the League Cup, City was eliminated by its rival Manchester United, led by Jose Mourinho.