Guardiola has played down the speculation, however, with the City manager expecting to have the club's record goalscorer at his disposal once again entering the 2018-19 campaign.
"Sergio is going to stay until he decides 'my time here is over'," Guardiola told reporters. "I said it many times last season, this season, and today. I think it is not going to happen but in football you never know."
Aguero, who should be fit to represent Argentina at the 2018 World Cup despite undergoing knee surgery in April, has scored 30 times in 39 appearances in all competitions for the Citizens this season.