Aguero was left out of the City starting lineup at times during the second half of last season, with manager Pep Guardiola preferring Gabriel Jesus alongside Leroy Sane and Raheem Sterling when the Brazilian was fit.
"Sergio always tries to stay out of the media and always stays away from what people are saying. He knows that he's really happy here and he knows everything's fine," he is quoted as saying by the Manchester Evening News.
"This season, obviously we've got good quality players and that's always a great thing to have. The ultimate goal is to get titles. Unfortunately we weren't able to do that last season so that's a big goal for us."
Aguero, who has scored 169 goals in 253 games for City, had been linked to the likes of Paris Saint-Germain, Inter Milan and Chelsea.