The 24-year-old started his career at the Argentinian club before being signed by La Liga outfit Atlético Madrid in 2006.
Independiente suffered a surprise relegation last season and Aguero felt duty-bound to return to his former employers.
However, the Argentina international accepts his current future is at the Citizens – but refused to rule out a return to Independiente further down the line.
“I love Independiente and when they were relegated I even thought about moving back there,” Aguero told 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.”
Aguero has scored 39 goals in 70 top-flight appearances for the Citizens following a £36m move to City from Atlético Madrid in 2011.
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