Guardiola took over at the Allianz Arena in June of last year and has enjoyed great success with the Bavarians, leading them to the Bundesliga title, the DFB-Pokal and FIFA Club World Cup in his first season in charge.
A failure to retain the UEFA Champions League crown won by predecessor Jupp Heynckes led to some criticism of the former Barcelona boss but, with Bayern seemingly cantering to another German top-flight success and already through to the knock-out stages of Europe's premier club competition, Rummenigge wants Guardiola to stay for the long term.
"He's the best coach Bayern Munich could have had," Rummenigge said. "He's also a wonderful person and it's a great pleasure to work with him.
"I hope he stays a long time with us. I know him and I know he is not the sort of person who likes to renew his contract early or places much value in a long-term contract.
"I would only get on his nerves if I were to ask him now. I know when I need to seek talks and that's not going to happen in the very near future because he doesn't want that. We still have time to discuss the issue."
Bayern have 33 points from their first 13 Bundesliga games following a 1-0 win at Hertha Berlin on Saturday.
