The Argentina striker will land in London on Wednesday to finalise negotiations over joining the mega-rich Barclays Premier League side.
Aguero is viewed as a perfect replacement for Carlos Tevez, who is currently in limbo after his own ?40m move to Corinthians collapsed last week.
Blue move: Aguero is keen to finalise his move to City and refused to return to training with Atletico
Aguero is due to sign a five-year deal at the Etihad Stadium and wages of around ?200,000 per week after forcing his exit from Atletico Madrid.
The 23-year-old will be accompanied by his agent Hernan Reguera ahead of securing the lucrative deal.
Aguero failed to show up for training with Atletico at the weekend as Roberto Mancini pushed for the deal to be tied up.
Adding to the ranks: City boss Mancini is hopeful of completing a deal before the squad visit Ireland
On Sunday, he said: 'I hope we can close this deal in the next four or five days.'
Aguero has stayed in Argentina for the last 10 days after their quarter-final exit from the Copa America.
City chairman Khaldoon Al-Muabarak is believed to have been in Madrid on Monday to complete negotiations.
City head to Ireland this weekend to play friendlies against an Irish XI on Saturday and Inter Milan on Sunday, and they are keen to have Aguero in a sky blue shirt by then.
Tough times: Carlos Tevez dream of a return to South America was lost at the 11th hour
Tevez, meanwhile, is not expected to return to training until the start of next week, with his future still up in the air.
Brazilian giants Corinthians pulled out of their swoop after disagreements over the format of their payments.
That leaves Inter as the frontrunnersfor his signature. Tevez was pictured in a chance meeting with Inter chief Marco Branca on holiday in Sardinia last week, fuelling speculation that his next move will be to Italy.
?CLICK HERE TO SIGN UP FOR OUR FREE FANTASY FOOTBALL GAMEMan City target Aguero misses training as he attempts to force through ?40m move City striker Tevez rejects ex-boss Fergie's claim that he is set for early retirementYou Inter us, Carlos? Tevez meets Milan chief as Man City star considers next move
Source: Daily Mail
Source: Daily Mail