The Dutch coach, currently in charge of Turkey, says he was approached by both City and Liverpool during the close season.
Hiddink says he rejected the approaches as he was not keen on a return to club management following his stint with Chelsea in 2009.
"In the summer City and Liverpool both came to me with an inquiry," Hiddink said.
"But at my age I don't want to manage a club again for seven days a week over three years."
Liverpool were strongly linked with Hiddink at the time as they were looking for Rafa Benitez' replacement - but instead opted for Roy Hodgson.
But City already had Roberto Mancini in place and they have insisted that no approach was made to Hiddink.
Liverpool were in the market for a new manager following Rafa Benitez's departure to Inter Milan.
But Hiddink's claim will cause huge embarrassment to City, who have insisted they have never looked to replace Mancini.
"We strenuously deny that we have ever spoken to Guus Hiddink or any other manager about the possibility of succeeding Roberto Mancini," Vicky Kloss, City's chief communications officer, told the Sunday Mirror.
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