Recent media reports said that the 27-year-old Aguero, City’s top scorer with 16 league goals this season, could renew his deal through to 2020.
“In the last few months lots was said about my renewal but I didn’t pay it any attention,” said Aguero, who joined City from Atletico Madrid in 2011.
“I know the contract ends after the World Cup (in Russia in 2018) and I’m going back to Independiente,” he told a radio station which reports exclusively on the club.
Aguero began his career at Independiente, one of Argentina’s 'Big Five' clubs, making his first division debut at 15, before moving to Atletico Madrid in 2006.
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“Here at City the vibes have always been the best, they’ve always told me they were open (to a move) if the chance of a transfer came up,” Aguero said.
“When I leave, when my contract ends, I’m off to Argentina to play for the Reds (Independiente), from Manchester straight to Avellaneda,” he added referring to the suburb of Buenos Aires where the club is based.
Aguero said it was a strange situation to know that City's Chilean manager Manuel Pellegrini was leaving the club in June to be replaced by former Barcelona and now Bayern Munich coach Pep Guardiola.
“It’s kind of crazy with four months to go to know your coach is leaving and also to know who is his successor, but that’s how it is,” he said.
"Let’s hope we can win something to give Pellegrini the best send-off and then we’ll adapt to what Pep Guardiola wants (of us)."
City, fourth in the Premier League and 10 points behind leaders Leicester City, have already won the League Cup and hold a 3-1 lead over Dynamo Kiev before next week's Champions League last-16 second leg.
Aguero will return to South America later this month for Argentina's World Cup qualifiers away to Chile and at home to Bolivia.
(Reporting by Luis Ampuero; Writing by Rex Gowar; Editing by Toby Davis)
