City exited the competition in the round of 16 last season, bowing out on away goals after a thrilling 6-6 aggregate draw with eventual semi-finalists Monaco.
Speaking to the Daily Mail on his island home off the coast of North Africa, the 31-year-old claimed life on the beach would beckon should he fill the void in his collection of major honours.
"I'd retire," he said.
"If I win the Champions League I'm retiring back here. It would be very special for me."
Silva is under contract until June 2019 and, while he wants to keep playing at Eithad Stadium, the creative midfielder is aware of the toll English football can take on ageing players.
"I'm very happy to be at City and I would like to continue there for as long as possible," he said.
"It obviously depends on my health, my quality on the pitch and if the club want me to stay.
"I would like to be there until the end but the Premier League is such a hard league to play in, it is much more physical than somewhere like La Liga, so it depends."
City started strongly in Pep Guardiola's first campaign in charge last term, but fell away and then faced a battle to secure automatic Champions League qualification, ultimately holding off the challenge of Liverpool to claim third.
"Since I was a regular in the team, this hasn't been the best year because we haven't won any trophies but we're sure that next year it's going to be better," Silva said.
"We did not win anything last season. The aim for the future is always to win titles, become champions of the Premier League and more. Guardiola is bringing players into the team and we need them."