The Argentina striker’s contract extension until 2020 is to be announced before the start of the new campaign.
Aguero will be one of City’s top earners when the contract kicks inLast season was a frustrating injury hit campaign but he still found the net regularly
His wages are set to pass the £200,000 a week, making him among the club’s top earners.
His current deal is up in 2019 but he will get a rise as he goes into new head coach Pep Guardiola’s first Premier League season as City’s main striker.
The Argentine has been City’s top striker in recent seasons
Aguero, who has hit 75 Prem goals in 175 games since his £35million move to City from Atletico Madrid in 2011, previously vowed not to leave the Etihad without winning the Champions League.
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