The Argentine striker gave City the lead on 12 minutes, but Spurs equalised just two minutes later through Christian Eriksen.
Aguero put the hosts in front once again on 19 minutes from the penalty spot, though he saw a second spot kick saved by Hugo Lloris before the break.
Spurs had a glorious chance to level things up on the hour after referee Jon Moss pointed to the spot again, but this time it was Roberto Soldado who was denied from 12 yards by Joe Hart.
The visitors were made to pay as Aguero made it 3-1 with yet another penalty after Federico Fazio had been sent off for a foul on the forward, and City's talisman completed the scoring on 75 minutes to give his side the points.
Read Sports Mole's minute-by-minute report below to find out how all of the action unfolded at the Etihad Stadium.
11.46amHello there! With the international break over, the Premier League gets up and running again this afternoon with Manchester City taking on Tottenham Hotspur at the Etihad Stadium and we'll be here to bring you live text coverage of the game as it happens. We should have some team news through shortly...
11.49amMAN CITY SUBS: Caballero, Kolarov, Boyata, Toure, Fernandinho, Jovetic, Dzeko
11.52amThe big news from a Man City perspective is that Yaya Toure does not make the squad for today's match. There were rumours in midweek that the midfielder would not be available due to his arriving back in England late from international duty, and manager Manuel Pellegrini has indeed opted to leave him out. Pellegrini has made a further five changes following his side's win over Aston Villa last time out, with Frank Lampard, Gael Clichy, Martin Demichelis, Bacary Sagna and Jesus Navas all coming in.
11.55amSPURS SUBS: Vorm, Vertonghen, Dembele, Stambouli, Townsend, Adebayor, Kane
11.58amSpurs coach Mauricio Pochettino has gone for two changes after seeing his side beat Southampton two weeks ago. Summer signing Federico Fazio makes his Premier League debut for the club, while Roberto Soldado in selected up front. Jan Vertonghen and Emmanuel Adebayor are the players who make way.
12.01pmRight, let's get down to business. The international break provided plenty of thrills and spills (particularly among the British nations), but nothing quite beats the zest of the Premier League. And what a game to get us going again. Man City can move to withing two points of leaders Chelsea this afternoon, while Spurs could replace City in second place if they leave Eastlands with the spoils.
12.04pmMan City start the day on an unbeaten run of five matches in all competitions and having taken seven points from a possible nine in the Premier League. The Blues haven't quite started the season in the blistering form that Chelsea have, but they're still very much in the mix as we head towards the end of the year.
12.07pmMeanwhile, Spurs ended a winless run of four games in the Premier League two weeks ago with their narrow 1-0 victory at home to Southampton. The North-London club is currently hovering just outside of the Champions League places after taking 11 points from their opening seven games.
12.14pmSpurs coach Mauricio Pochettino: "We expect a tough game at City but we are confident in our skill and we'll try to get the points. We need to reproduce the same feeling we had against Southampton, take that momentum and put it into practice against City."
12.17pmMan City manager Manuel Pellegrini: "Pochettino is a very good manager and we know it will be a difficult game. He's a young manager who has been very successful and his teams are creative and always play good football.
"We know that from now until the next international break we have to play seven games in three different competitions. We have four games in the Premier League. It is very important for us to try not to drop points and to try and recover points from Chelsea."
12.20pmHEAD TO HEAD: Man City and Spurs have an identical record when it comes to past meetings, with both teams winning 52 games each. Meanwhile, there have been 32 draws since they first went up against each other in 1910.
12.23pmWhile the overall record shows parity between these side, it's safe to say that Man City have been the dominant team in recent seasons, winning five of the last six matches. Indeed, last season this fixture produced two freak results as City won 6-0 at the Etihad Stadium before earning a 5-1 triumph at White Hart Lane. Spurs will be desperate to erase those memories today.
12.29pmGot a spare couple of minutes before kickoff? Why not check out our video preview of today's match below:
12.32pmYou have to say that anything other than a draw for Man City today would be seen as a disappointment for the champions. Manuel Pellegrini is well aware that Chelsea cannot be given too much more room at the top of the table, so moving to within two points of them this afternoon would put pressure on Jose Mourinho's side ahead of their trip to Crystal Palace (KO 3pm). However, Chelsea's lead could be as big as eight points by this evening, should certain results go their way.
12.35pmAround 10 minutes until kickoff and the Etihad Stadium is filling up nicely. There's been plenty of chatter this week about the rising cost of football in England, but lots of fans have turned up today for this match.
12.41pmThe players are starting to emerge in the tunnel, with Vincent Kompany and Younes Kaboul leading the respective lines. As you might imagine, there are plenty of intense-looking faces in there.
1 minKICKOFF! The teams are out, the pre-match handshakes have been done, and it will be hosts Man City to get us underway. Here we go!
3 minIt's been a positive start from Man City, who have seen most of the ball during these opening few minutes. An early opening for the hosts sees Aguero try to latch onto Silva's pass, but Lloris is quick off his line to gather the ball.
5 minSpurs give Man City something to think about as Chadli bursts forward before teeing up Mason on the edge of the box, only for the youngster to drag his shot wide from 20 yards. Not a great effort, though it's encouraging for Spurs.
8 minSAVE! Spurs should be ahead, but Hart keeps the scores level with a fine save from Mason! Some intricate passing sees Mason played through inside the box, though his tame flick is pushed away by the alert Hart. A bit more composure there and the visitors could have been 1-0 up.
11 minIt's safe to say that Spurs are looking up for this now. They started the match a bit on the slow side, but they've now come out of their shell and are giving City a real go. Eriksen in particular is pulling plenty of strings in the final third for the away side. At the other end, a cross from Navas causes some confusion before Lloris collects.
12 minMan City take the lead thanks to a superb goal from Sergio Aguero! The striker looks to be crowded out on the left side of the penalty area, but he manages to make himself a yard of space before firing the ball low into the far corner. Vintage stuff from the Argentine. What a goalscorer he is.
14 minAnd just like that Spurs are level! Fernando loses the ball in midfield, allowing the visitors to break with Soldado. The striker then plays in Christian Eriksen, who smashes the ball past Hart and into the roof of the net from close range. Clinical.
17 minConsidering their track record against Man City in recent seasons, you'd have forgiven one or two of the Spurs players for feeling deflated when they went behind. However, they've responded superbly and are right back in this game. They've more than held their own so far.
19 minMan City go back in front as Aguero grabs his second of the game from the spot by sending Lloris the wrong way. The penalty was given when Lampard was tripped by Lamela inside the box. It was a soft one, it has to be said. You get the feeling that Mauricio Pochettino might have something to say about that at the end of the game, should it cost his side.
23 minCHANCE! Almost a hat-trick for Aguero! Navas makes space down the right before crossing to his teammate, but the striker's first-time effort from about 10 yards in straight at Lloris. Spurs are starting to look a bit exposed at the back as City's confidence grows.
26 minSUBSTITUTION: Bad news for Man City here as Lampard is stretchered off the field with a thigh injury. It looked as if the midfielder pulled a muscle in his leg. Fernandinho is on in his place.
29 minCHANCE! Eriksen threatens again, this time with a free kick from about 30 yards out. The Dane strikes the ball well, getting plenty of dip and spin on it, but it ends up going narrowly over the crossbar. Opportunities for Spurs have been rare in the last few minutes.
32 minPENALTY SAVED! Incredible scenes as Aguero squanders the chance to get his hat-trick from the spot. The penalty is given after Kaboul chops down Silva inside the box. Aguero sees his initial effort kept out by Lloris before volleying the rebound over the bar. How important could that save be? Meanwhile, Spurs midfielder Mason goes into the book.
35 minWhat a match this has been to get the Premier League up and running again after the international break! Man City could be out of sight now, but Spurs are still hanging on in there thanks to Lloris. You wonder where the next piece of drama is going to come from!
37 minYELLOW CARD! Spurs defender Eric Dier goes into the book for a cynical shirt-pull on Navas. Capoue then gets away with a caution after clipping Silva's Achilles from behind.
40 minSAVE! Spurs come close to making it 2-2 with a couple of decent efforts from Lamela and Mason. The former sees his shot heroically blocked by Kompany after he is picked out inside the box by Eriksen. Mason then tries his luck with a powerful drive that looks destined for the top corner, but Hart is there to push the ball away before City clear. Heart-stopping football inside the home side's penalty area.
43 minSpurs are pushing hard for an equaliser as we head towards the final minutes of the half. They've not been consistent enough in their attacking play this afternoon, but they look very dangerous when they get forward. Eriksen is continuing to make things happen for the visitors with his movement and vision.
45 minMilner has a go from distance, but Lloris is there to gather the ball. Meanwhile, there will be three minutes of added time at the end of the half.
1.35pmWow, what a first half of football that was! Man City lead 2-1, but we could have had plenty more goals were it not for some fine saves from both goalkeepers. The most significant of those was undoubtedly Lloris's save from Aguero's penalty that could have made it 3-1 to the hosts. As it is, the visitors are still in with a chance of taking something from this match.
1.39pmIt's hard to say what's going to happen in the second half, but you wouldn't rule out more goals. What we've seen so far is some brilliant attacking play from both sides. Man City have dominated thanks to the imperious Aguero, though Spurs have impressed with their quick countering.
1.42pmOne thing that Spurs certainly need to do is come up with a solid plan to keep Aguero at bay. The Argentine bullied the visiting defence during that opening 45 minutes, and he'll continue to do that after the break unless he is stifled.
1.46pmTottenham's best player so far has been Eriksen. The Dane has been superb in that role behind Soldado, making good runs and creating opportunities for his teammates. He also took his goal really well, blasting the ball past Hart.
46 minSECOND HALF UNDERWAY! The teams are out for the second half and it will be Spurs to kick us off.
48 minCHANCE! Man City nearly extend their lead through that man Aguero, who hammers the ball towards goal from all of 30 yards, but Lloris manages to get down low to palm the drive away. An early warning for the visitors.
51 minMan City have started the second half very strongly indeed, although their passing isn't quite up to scratch at the moment. One attacks sees Navas lead his side forward with a powerful run from deep, but his final ball to Silva is a poor one and the move breaks down.
55 minYELLOW CARD! Man City winger Jesus Navas gets a warning from referee Jon Moss after tripping Chadli with Spurs looking to break. The visitors have grown into the match a bit more during the last few minutes.
56 minPENALTY APPEAL! Spurs want a penalty as Eriksen's cross possibly hits a hand, but the referee is having none of it. It's only a matter of time before we get another goal in this match.
57 minSAVE! Another fine stop from Lloris keeps Spurs in the game! Man City break through the speedy Navas, who tries his luck on the angle. However, his low shot is kept out by the Tottenham goalkeeper. It really is end-to-end stuff at the moment.
60 minSUBSTITUTIONS: A double change for Spurs here as Mousa Dembele and Andros Townsend replace Erik Lamela and Etienne Capoue. The visitors have around 30 minutes of normal time remaining to get something out of this match.
61 minPENALTY SAVED! Spurs are given the chance to make it 2-2 from the spot, but Soldado sees his low effort from 12 yards pushed away by Hart! The spot-kick was given when Soldado was clipped from behind by Demichelis. It was another soft decision from Jon Moss, but it's all worked out for Man City because they remain 2-1 in front.
66 minThis game is really hotting up now. Spurs threaten again as Soldado pokes the ball towards goal from close range, but Hart is there once more to keep the score as it is. Man City then go up the other end through Navas, who has his shot on the angle parried by Lloris.
67 minPENALTY TO MAN CITY! RED CARD TO FAZIO (SPURS)
67 minThis is getting silly now. Man City finally make it 3-1 as referee Jon Moss awards the fourth penalty of the game. He might have missed his last one, but Aguero doesn't make the same mistake this time as he sends Lloris the wrong way from 12 yards. The Argentine was fouled in the box in the build-up, with Fazio earning a red card for hauling Aguero to the floor. It's breathless stuff at the Etihad Stadium!
69 minSUBSTITUTION: Tottenham's final change of the match sees Mason replaced by Vertonghen. Meanwhile, Jovetic enters the action in place of Silva for Man City.
72 minCredit to Spurs, they're not letting their heads drop. Another goal for them would see the dynamic of this match shift significantly. There's still plenty of time to do so.
75 minThat is wonderful from Aguero, who bags his fourth of the match to put Man City 4-1 up. The Argentine is played in down the right before cutting onto his left foot and firing into the far corner. He has been sensational this afternoon.
76 minSUBSTITUTION: Another change for Man City sees Yaya Toure replace Fernando.
79 minJust over 10 minutes left to play at the Etihad Stadium and it's damage limitation for Spurs now. Man City look as if they have another couple of goals in them as they surge forward again and again.
82 minAguero is in the thick of the action again as he exchanges passes with Milner on the edge of the Spurs penalty area, but Dier is there to sort out the danger. The Tottenham defence must be sick of the sight of the Argentine striker. They haven't been able to live with him today.
85 minMauricio Pochettino is down on the touchline looking a bit stunned, if truth be told. He compared Aguero to Mozart in the build-up to this match and the Man City striker has lived up to his billing. Spurs have certainly contributed to this match with some decent attacking football, but their lack of consistency has cost them.
87 minOFF THE POST! Almost a fifth goal for Man City as Milner is teed up on the edge of the penalty area, but the midfielder's low curler clips the outside of the woodwork.
90 minThere will be three minutes of added time...
2.40pmReferee Jon Moss blows the full-time whistle, bringing an end to a crazy afternoon at the Etihad Stadium. Man City have kept their pressure on leaders Chelsea with a 4-1 win thanks to a masterclass from Sergio Aguero. Spurs had their chances to take something from the game, but Roberto Soldado's saved penalty from Joe Hart seemed to be the turning point.
2.42pmThat's all from our live text coverage of today's match, but don't forget that you can keep up to date with reaction from both teams right here on Sports Mole. Thanks for your company and we hope to see you soon. Goodbye!