Aguero came through the youth ranks with the Avellaneda outfit and it is where he made his name before his big-money move to Europe with Atletico Madrid in 2006.
Independiente suffered a shock relegation last season and Aguero admits it crossed his mind to return and help them - but the idea was soon ruled out.
"I love Independiente and when they were relegated I even thought about moving back there," he is quoted as saying in The Sun.
"I wanted to help the club to go up again. I definitely thought about it, but my agent told me City would have killed us if we had.
"I know my job is at City, I am just saying the thought passed my mind when Independiente went down.
"I've been very happy at City since the day I came but I'm definitely going to back Independiente, in a few years as I want to finish my career there."