The Argentina international underwent knee surgery back in June after he suffered an injury against Burnley towards the end of last season.
City’s record goalscorer returned to training earlier this month and stepped up his preparation over the course of the international break.
Pep Guardiola’s side have endured a mediocre start to the new campaign in the absence of both Aguero and Gabriel Jesus, drawing at Leeds and suffering a humiliating 5-2 home defeat against Leicester in their opening four matches.
According to TyC Sports, however, Aguero is fit enough to make Guardiola’s squad and is likely to start on the bench this weekend for the visit of Arsenal, against whom he has scored 11 goals in 17 career appearances.
City comprehensively defeat Arsenal on Mikel Arteta’s first return to the Etihad last season, but Guardiola’s former assistant got the better of his old club in the FA Cup semi-final at Wembley.
Despite some indifferent results so far this campaign, Arteta hasn’t noted any deterioration in his old club’s form and believes they will represent a stern test of his own side.
‘We know the level of difficulty at Manchester City will be another level,’ said Arteta at his pre-match press conference.
‘But I haven’t seen any decrease in the level of the way they are playing or in what they are producing game by game. I haven’t seen any of that.’